Lifelong coverage without lifelong payments
Sun Limited Pay Life Insurance provides lifelong insurance without lifelong payments. The minimum amount is $25,000 for single coverage up to age 75 ($50,000 for joint coverage) with an overall maximum of $10 million. The policy also features an investment fund where you can grow tax-preferred savings in 1 of 23 investment account options.
You should consider this product if:
- You want the security of knowing that after paying a guaranteed amount of premium for a guaranteed length of time, the cost for your permanent life insurance policy will be fully paid
- You want to invest money to increase your tax-preferred savings or increase the amount of your death benefit
- Joint last-to-die
- $25,000 for single up to age 75
- $50,000 for joint
- $10 million
- Guaranteed cost of insurance
- Guaranteed cash surrender value
- Guaranteed death benefit
Investment account options
It includes a policy fund where you can grow savings tax-preferred. Payments into this fund can be invested in 1 of 23 investment account options in 2 types of accounts:
- Daily interest account
- Guaranteed interest accounts
- Long-term managed portfolio account
- Index accounts
- Managed accounts
This benefit protects the coverage if the owner dies or becomes totally disabled. If this happens, the cost of insurance withdrawals cease until the first of these things happen:
- The disability ends
- The insured person turns 18
- The owner turns 65
- The payment period ends
This is an option that can maintain coverage if the insured person is:
- between the ages of 18 and 60, and
- becomes totally disabled Premiums will not be waived until after the policy anniversary immediately following the insured person’s 18th birthday.
The cost of insurance withdrawals are suspended until the disability ends, or the payment period ends – whichever comes first. The benefit is also extended to insured persons who are students or unemployed at the time of disability. For joint last-to-die plans, this benefit can be added for either insured person or each insured person individually.
Read examples of text that can appear in a policy. Not all the provisions apply to every policy – it is for your reference. When we issue a policy it governs the relationship between us and the client. The policy can have provisions that are different from those that you've read here.