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Whole Life Give your loved ones

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					Whole Life

Give your loved ones a gift of the Whole Life Coverage Plan, a product that is ideal for those who
wish to accumulate savings and have life long protection.

What is Whole Life Insurance?

Insurance that provides death protection for the insured's entire lifetime at a level premium. As
premiums are paid for this type of policy an accumulated savings amount known as the policy’s
cash value gradually builds. It’s a valuable asset that the policy holder can use in a number of
ways:

   •   Use of death benefit to pay final expenses
   •   Use of death benefit to provide money for a favorite charity
   •   Use of death benefit to pay estate taxes
   •   Fund a business buy/sell agreement or provide key person protection

The longer period of time that insurance protection is needed, the more consideration you should
give to Whole life insurance



Type of Whole Life Plans offered by CLICO.

Special Preferred Whole Life-
This plan is issued only to individuals who qualify as first class risks. These are individuals whose
physical condition, occupation, mode of living and other characteristics indicate a prospect for
longevity superior to that of the average longevity. Premiums are cheaper for this type of Whole
Life plan and is available on a Participating or Non-Participating Basis. On a Participating basis
the Owners of the Life Insurance policy are eligible to share in the distribution of dividends paid
out of the surplus earnings of the company.


Whole Life Double Cover-
This plan is issued as Non-participating. The Beneficiary receives twice the sum assured if death
occurs before the anniversary date. Only the sum assured is paid if death occurs after the
anniversary date.
Special Features of this plan
   • On the anniversary date of the policy closest to the insured’s 60th birthday, it becomes a
        participating policy
    •   If death occurs before the anniversary date of the policy closest to the insured 60th
        birthday, an amount equal to twice the sum assured is paid.
    •   If death occurs after the anniversary date of the policy closest to the insured sixtieth
        (60th) birthday the only the sum assured is paid.



Whole Life Convertible
The policyholder has the option to convert to an Endowment five years after the policy is issued.
If the conversion option is not exercised, the policy continues as a Whole Life Plan.


Limited Payment Life
This Plan is available on either a Participating or Non-participating basis*. Premiums are payable
for a specified period only (e.g. 20 year limited payment life). However, the plan is kept in force
for the life of the Insured. The premiums are higher for this plan than all other Whole Life policies,
as the Cash Value increases the fastest.


Riders Available:

•   Accidental Death and Dismemberment (ADD)
•   Accidental Death Benefit (ADB)
•   Waiver of premium
•   Payor’s Death Benefit (PDB)
•   Payor’s Disability (PD)
•   Income Disability Benefit (IDB)

				
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posted:3/19/2011
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