New graded Return of Premium on Cancellation or Expiry.
Sun Critical Illness Insurance – Return of Premium on Cancellation or Expiry
Introducing a new graded Return of Premium on Cancellation or Expiry (ROPC/E) for Sun CII adult plans.
Clients will have access to the returnable premium amount earlier than with any other carrier. In most cases, we'll also return a larger portion of the premium.
The simple design offers consistent grading for all ROPC/E options (15, age 65, & age 75). Depending on the ROPC/E chosen, availability starts either in year 3, at age 53 or at age 63. The percentage amount starts at 10% of the returnable premium amount and increases by 7.5% per year to a maximum of 100%.
- ROPC/E – 15 years
Issue ages: 18 - 60
Plan types: T75 or T100. It is also available on plans with limited premium payment periods. It is not available on T10 plans
We will pay a percentage of the returnable premium amount to the owner if the policy is cancelled on or after the 3rd policy anniversary, if the CII benefit is not payable. The benefit has no value if the policy is cancelled before this date. The percentage amount starts at 10% of the returnable premium amount and increases by 7.5% per year to a maximum of 100%.
3 | 10.0% |
4 | 17.5% |
5 | 25.0% |
6 | 32.5% |
7 | 40.0% |
8 | 47.5% |
9 | 55.0% |
10 | 62.5% |
11 | 70.0% |
12 | 77.5% |
13 | 85.0% |
14 | 92.5% |
15 | 100.0% |
If the policy expires at age 75 and no claim for a full-payout covered illness has been made, you can receive 100% of the returnable premiums. We will also pay the policy owner any amount in the withdrawable premium fund on the policy end date
- ROPC/E – age 65
Issue ages: 18 - 50
Plan types: T10, T75 or T100. It is not available on plans with limited premium payment periods.
We will pay a percentage of the returnable premium amount to the owner if the policy is cancelled on or after the policy anniversary nearest the insured person’s 53rd birthday, if the CII benefit is not payable. The benefit has no value if the policy is cancelled before this date. The percentage amount starts at 10% of the returnable premium amount and increases by 7.5% per year to a maximum of 100%.
53 | 10.0% |
54 | 17.5% |
55 | 25.0% |
56 | 32.5% |
57 | 40.0% |
58 | 47.5% |
59 | 55.0% |
60 | 62.5% |
61 | 70.0% |
62 | 77.5% |
63 | 85.0% |
64 | 92.5% |
65+ | 100.0% |
If the policy expires at age 75 and no claim for a full-payout covered illness has been made, you can receive 100% of the returnable premiums. We will also pay the policy owner any amount in the withdrawable premium fund on the policy end date.
- ROPC/E – age 75
Issue ages: 18 - 60
Plan types: T10, T75 or T100. It is not available on plans with limited premium payment periods.
We will pay a percentage of the returnable premium amount to the owner if the policy is cancelled on or after the policy anniversary nearest the insured person’s 63rd birthday, if the CII benefit is not payable. The benefit has no value if the policy is cancelled before this date. The percentage amount starts at 10% of the returnable premium amount and increases by 7.5% per year to a maximum of 100%.
63 | 10.0% |
64 | 17.5% |
65 | 25.0% |
66 | 32.5% |
67 | 40.0% |
68 | 47.5% |
69 | 55.0% |
70 | 62.5% |
71 | 70.0% |
72 | 77.5% |
73 | 85.0% |
74 | 92.5% |
75+ | 100.0% |
If the policy expires at age 75 and no claim for a full-payout covered illness has been made, you can receive 100% of the returnable premiums. We will also pay the policy owner any amount in the withdrawable premium fund on the policy end date