Living Benefit Rider (LBR)

Transcription

1 Face Amount 350, Insurance Coverage 700, Rider (LBR)

2 Life Insurance Proposal In the Philippines, insurance products are being offered through Sun Life of Canada (Philippines), Inc., a member of the Sun Life Financial group of companies. In this proposal, you and your refer to the policy owner while we, us, our and the Company refer to Sun Life of Canada (Philippines), Inc. Proposal Information On the Life of : Male Age Last Birthday : Currency : Philippine Peso Basic Plan Face Amount Annual Premium SUN Smarter Life Classic Peso Regular Pay - Non-Smoker Ps 350, Ps 17, ( equals 200% of Face Amount) Supplementary s Rider* F R E E Annual Premium Ps 17, * Rider - This is a benefit that provides an advance payment of up to 60% of the basic Face Amount, subject to the prior deduction of any outstanding advances (loans) with interest, if the life insured is diagnosed to be terminally ill with a life expectancy of 12 months or less. The sum of all Amounts payable on all Sun Life policies of the life insured shall not exceed Ps. 2 Million. Interest is charged on advances, including the amount paid, at a specified rate of interest as declared by the Company. The following caveats shall apply to the succeeding pages of this proposal illustration: (i) (ii) (iii) (iv) (v) (vi) The succeeding tables are only summary illustrations of the major benefits of your policy. You should refer to your advisor or the Company for more information or, if appropriate, a more detailed proposal. The illustration assumes that all premiums are paid in full when due and you will have no loans/advances on the policy. The amount of total premium(s) may differ slightly from the total of the premiums payable in the policy due to rounding differences. Under the Summary of s, there are two scenarios illustrated: (1) Based on current dividend scale and current accumulation rate; and (2) Based on interest rate which is 40 basis points lower than the current interest rate used for computing the annual dividends and accumulation rate which is 40 basis points lower than the current accumulation rate. You can leave the amount of projected dividends to purchase additional paid-up insurance. Paid-up Additions themselves are participating. These projected dividends are not guaranteed. You can also cash all or part of the amount of cash value of accumulated paid-up additions without affecting the Face Amount but the values shown in the table will be reduced accordingly. If the assumed dividend scales remain unchanged throughout your policy term, then the future premiums can be paid out of the cash value of accumulated paid-up additions from policy year 34th onwards. This is not guaranteed; a change in the projected dividend scale may require you to pay additional premiums to maintain the policy. The scale of dividends and accumulation rates, however, are likely to change during your policy's lifetime. As the changes will affect the figures, we prepared this proposal for information purposes only, to demonstrate the features of the recommended policy. This does not form part of any policy that may be issued. It is neither an estimate nor a guarantee of the future policy performance. While we have made every effort to ensure accuracy, errors and omissions may have occurred in the preparation of this proposal. For more information on the dividends, please refer to the Dividend Information page. Declaration I confirm having read and understood the disclosures in this proposal illustration. Applicant's Name: Signature: Date: Prepared By : wiljohn tantongco Date : 14 October 2013 Branch : ivy Attachment : Paid-Up Addition Option APs r (P 29 ; M 24) Page 1 of 6 *0PROP.07.4*

3 Face Amount : Ps 350, Annual Premium : Ps 17, Summary of s End of Year Att Age of Accum. Scenario 1 Current Dividend Scale , , ,000 17, , , ,000 35, , , ,000 97,475 4, ,013 5, , , ,211 17, ,307 17, , , ,727 41, ,765 37, , , ,901 68, ,818 56, , ,000 97,475 4, ,013 5, , , ,211 17, ,307 17, , , ,727 41, ,765 37, ,254 End of Year Att Age of Accum. Scenario 2 Dividend Scale , , ,000 17, , , ,000 35, , , ,000 97,475 3, ,693 3, , , ,211 12, ,260 12, , , ,727 28, ,449 25, , , ,901 47, ,833 39, , ,000 97,475 3, ,693 3, , , ,211 12, ,260 12, , , ,727 28, ,449 25, ,968 is the sum of and of. is the sum of and 200% of. APs r Page 2 of 6

4 Face Amount : Ps 350, Annual Premium : Ps 17, Premium Offset Illustration (Paid-Up Addition Option) Premium Offset is a method of letting a policy "pay its own premiums". Dur Annual Premium () of Accum. 1 17, , , , ,645 17, , , ,645 26, , , ,645 35, , , ,645 47, , , ,645 59,504 1,273 60,777 1, , ,645 71,939 2,082 74,021 2, , ,645 84,613 3,160 87,773 3, , ,645 97,475 4, ,013 5, , , ,520 6, ,775 7, , , ,828 8, ,183 9, , , ,367 10, ,207 11, , , ,168 13, ,918 14, , , ,211 17, ,307 17, , , ,202 20, ,114 21, , , ,287 25, ,487 24, , , ,407 29, ,390 28, , , ,551 35, ,807 32, , , ,727 41, ,765 37, , * 449, , , , ,692 ***** Age55 17,645 97,475 4, ,013 5, ,892 Age60 17, ,211 17, ,307 17, ,412 Age65 17, ,727 41, ,765 37, ,254 * If the assumed dividend scales remain unchanged throughout your policy term, then the future premiums can be paid out of the cash value of accumulated paid-up additions from policy year 34th onwards. This is not guaranteed; a change in the projected dividend scale may require you to pay additional premium to maintain the policy. APs r Page 3 of 6

5 Face Amount : Ps 350, Annual Premium : Ps 17, Premium Offset Illustration (Paid-Up Addition Option) Premium Offset is a method of letting a policy "pay its own premiums". Dur of Accum. - Annual Premium = Net of Accum. Net + of Year-End Div = Accum. at Year-End ,678 1, ,658 2, ,912 3, ,446 4, ,283 6, ,443 8, ,897 10, ,656 13, ,706 17, ,053 20, ,676 25, ,577 29, ,727 35, , ,426 17,645 * 144,782 99,182 5, ,346 ***** Age55 3,912 3,160 Age60 14,656 13,750 Age65 32,727 35,256 * If the assumed dividend scales remain unchanged throughout your policy term, then the future premiums can be paid out of the cash value of accumulated paid-up additions from policy year 34th onwards. This is not guaranteed; a change in the projected dividend scale may require you to pay additional premium to maintain the policy. APs r Page 4 of 6

6 Face Amount : Ps 350, Annual Premium : Ps 17, Early Fully Paid-Up Life Option (Paid-Up Addition Option) Based on current interest rate used in computing paid-up life, your policy can be converted to Fully Paid-Up Life in 29 years if the guaranteed cash values and cash values of accumulated paid up additions are maintained intact. Upon conversion to Fully Paid-Up Life, all riders will be discontinued. Although no further premiums are payable after the 29th year, your policy will continue to accumulate guaranteed cash values. Assuming continuation of the current dividend scale, you will be entitled to: a) excess cash value of accumulated paid-up additions totaling Ps 14,691.07, which you may withdraw; b) paid-up additions on each policy anniversary; and still be covered for life. Below are the illustrations of cash values of paid up additions and guaranteed cash values after your policy has become Fully Paid-Up Life. (a) End of Year (b) (c) CV of Accum (d) (b)+(c) (e) (f) 2(FA)+2(e) , , , ,178 6, ,459 4, , ,225 12, ,135 9, , ,190 19, ,083 13, , ,003 27, ,231 18, , ,596 34, ,510 23, , ,935 42, ,879 27, , ,983 51, ,296 32, , ,738 60, ,753 37, , ,245 69, ,294 42, , ,502 78, ,913 48, , ,483 88, ,575 53, , ,152 98, ,235 58, , , , ,869 63, , , , ,491 69, ,428 Interest rate used in computing paid-up life may change at the time of conversion. APs r Page 5 of 6

7 Face Amount : Ps 350, Annual Premium : Ps 17, Dividends Dividend Information Sun Life Philippines will allot as a dividend once a year that part, if any, of Sun Life Philippines' surplus as may be distributed to the policy except when the policy is being continued as paid-up term insurance. Dividends will be applied to buy paid-up additions if no other option is elected. The dividend accumulations may be withdrawn by the owner on written request to pay any advances with interest or any unpaid premium. Dividends are not guaranteed and our Board of Directors also has the discretion to raise or lower the Company's dividend scale. Options You have a choice of several dividend options depending on your chosen participating product. You may change the policy's dividend option anytime upon request. The current dividend options available are: 1. Paid-Up Additions Dividends are used to purchase additional Paid-Up Insurance. Paid-up Additions themselves are participating. 2. Premium Reduction Dividends are applied towards the payment of your current amount due. 3. Dividend Accumulation Dividends left with the company accumulate at the rate we declare. We will not pay any dividend accumulation for the period between the withdrawal date and the previous policy anniversary. 4. Dividends are paid yearly to you in cash. I acknowledge that: Acknowledgement of Variability I have applied with Sun Life of Canada (Philippines), Inc. for a SUN Smarter Life Classic Peso Regular Pay policy, and have reviewed the illustration(s) that shows how a life insurance policy performs using the company's assumptions based on Insurance Commission's guidelines on accumulation rates. I understand that only those values described as guaranteed, if any, are guaranteed. All other policy values can change and may probably be different from those illustrated to me. Actual values may be higher or lower depending on the dividend rates actually earned. I understand that dividend rates change from year to year since these are affected by the company's mortality experience, investment returns, expenses, and taxes, and that Sun Life of Canada (Philippines), Inc. will advise me of the actual amount of the dividend, if any. I understand that the illustration(s) given to me will not become part of any issued policy, as these are provided only to show how policy benefits would change over time under a specific set of assumptions. Applicant's Signature over Printed Name Date APs r Page 6 of 6