Product Disclosure - Product features and benefits


Perspecta universal life insurance is more than just insurance; it provides a complete portfolio with financial security all in one policy. It can be used for traditional protection purposes, or when used to its fullest potential, for investment purposes as well. Perspecta allows policyholders considerable control and flexibility by letting them select and modify the amount of insurance coverage, the amount of premiums to be deposited, the premium payment period and the investment options.


Key features


Universal Life coverage for one or more persons:

  • Single Life
  • Joint First to Die
  • Joint Last to Die
  • Multiple Life

Death benefit options

When there is one Perspecta coverage under the policy, the death benefit can be:

  • Level
  • Increasing
  • Hybrid

When there are multiple Perspecta coverages under the policy, the death benefit will be:

  • Multiple increasing

Choice of different types of investment accounts:

  • Managed Accounts (including Predetermined Portfolio Accounts)
  • Indexed Accounts (including Strategic Asset Allocation Accounts)
  • Term Investment Accounts
  • Daily Interest Account

Three types of Cost of Insurance (COI) rates:

  • Yearly Renewable Term-100 (YRT-100)
  • Yearly Renewable Term-85/20
    (YRT-85/20)
  • Level COI
    • Issue ages 0 to 80 (18-80 equivalent single age for joint policies)
    • Preferred rates for sums insured of $100,000 and over
    • Easy access to funds (if the cash surrender value is positive. The cash surrender value is equal to the total investment accounts less the surrender charges, outstanding policy loans and, in the case of term investment accounts, market value adjustments.)
    • Shelter Optimizer and Account Optimizer features are available to maximize the investment component of the policy ensuring the policy keeps its tax-exempt status
    • Client bonus payments
    • Several additional riders and benefits
    • Disability Benefit Payout

We also offer the following riders and benefits:

  • 10- and 20-year renewable and convertible term riders
  • Protecta Critical Illness Insurance riders for adults and children
  • Children's protection and children's enhanced protection riders
  • Guaranteed Insurability Benefit
  • Accidental Death Benefit
  • Waiver of cost on disability
  • Enhanced waiver of cost on disability
  • Death and disability waiver
  • Survivor's insurance benefit 65 or 70

For more information on these benefits, including the guaranteed and non-guaranteed features as well as limitations and exclusions, please consult the contract provisions pertinent to each benefit.