Ulysses 2000
Life insurance and an investment vehicle which allows putting money in a tax shelter combining security and earnings, capable of meeting the most diversified needs to attain financial objectives.
Features that are unique on the market
- Accumulation of funds amongst the highest in the industry;
- Reduced mortality costs for privileged risks thus allowing even higher accumulation of funds;
- Diversified investment accounts able to satisfy investors;
- Simply designed earnings bonus which can attain up to 2.5% per annum;
- Collateral concept maximizing the value of the policy;
- Factual insurance in the case of critical illness, unique on the market, offered as a supplementary benefit;
- All supported by easy to use illustration software containing a multitude of integrated planning tools.
Features Summary
| Issue age | 0 to 70 years |
|---|---|
| Death benefit and minimum premium | $25,000 and $250 premium before the addition of riders, complementary guarantees or additional premium |
| Death benefit | Levelled or enhanced |
| Mortality costs benefit | YRT (during the life of the policy) |
| Preferred risks | Death benefit of $250,000 and over
|
Investment accounts  |
9 available options including 5 indicial accounts |
| Earnings bonus | Up to 2.5% per annum |
| Insurance extension | Up to the end of 2nd year if equivalent to 2 minimum premiums paid |
| Factual insurance | Critical illness covered: CVA, cancer, heart attack Monthly benefits for 24 months with first payment on diagnosis |
| Guaranteed insurability | Business insurance (min. 2 partners) with joint policy on first demise or individual policy |
| Taxation |
|
| Collateral concept | Calculation of maximum loan availability Automatic transfer of funds option:
|
| Types of premium | Minimum premium Prime maximale Primaxor Calculated premium Premium specified by the policy holder Lump sum deposit |
| Types of contrat | Individual Joint (up to 5 insured, substitution of insured possible)
|
| Multiple life | Multi-contract program |
| Guaranteed administration fees | $9.50 a month $8.50 a month for multiple contracts |
| Redemption fees | During the first 8 years only |
| Possibility of withdrawals | Yes |
| Methods of payment | Annual Monthly |
| Riders | 10 year term |
| Supplementary benefits | W.P. or W.P.D. on minimum premium Accidental death and dismemberment A.D.D. on minimum premium Temporary to 25 years of age (child) Accidental fracture |
Investment accounts
Possibility of choosing up to 5 different accounts from the following options with a minimum distribution of 20% of the deposit made in each account:
Available options |
Reference index and minimum yield |
|---|---|
| Canadian stocks | S&P/TSE 60 100% of the index variation 3% -IIT- investment fees |
| Canadian bonds | Scotia Global Bond Market Index 100% of the index variation 3% -IIT- investment fees |
| American stocks | S&P 500 ($Can) 100% of the index variation -3% -IIT- investment fees |
| Global stocks | Morgan Stanley Capital International Index ($Can) |
| High Tech stocks | NASDAQ 100 Index ($Can) 100% of the index variation -3% -IIT- investment fees |
Money market |
Canadian Treasury Bonds 3 months 90% of yield – 1.75% -IIT – investment fees |
| Guaranteed interest 1 year | Canada Savings Bonds 1 year 90% of yield – 1.75% - IIT – investment fees |
Guaranteed interest 3 years |
Canada Savings Bonds 3 years 90% of yield – 1.75% - IIT – investment fees |
Guaranteed interest 5 |
Canada Savings Bonds 5 years 90% of yield – 1.75% -IIT – investment fees |
If no choice is made in the application, the payment is placed in the Money Market account. The policy holder can modify the account distribution through a written notice to UUL Mutual.
The monthly deductions such as the fees for mortality, riders, supplementary benefits and extra premiums as well as administrative fees are deducted monthly proportionately to the value of the accounts. There is no adjustment to the market value for the monthly deductions.
The policy holder can make up to 4 free transfers a year amongst the chosen accounts. A $25 fee applies to subsequent transfers during the year. A market value adjustment is applied in cases of transfers of 3 and 5 year guaranteed interest accounts that have not reached maturity.
One of the above mentioned investment accounts must also be selected for the amounts transferred to the suspense account.
| Insured capital | Annualized bonus |
|---|---|
| $25,000 to $49,999 | 0.5% |
| $50,000 to $99,999 | 1.5% |
| $100,000 to $249,999 | 2.0% |
| $250,000 and over | 2.5% |
Annual exemption test: An exemption test is performed at the end of each policy year. If, for fiscal reasons, the accumulated funds cause the policy to lose its exempted status, UL Mutual proceeds according to one of the 3 following options in order to maintain the policy’s exempted status.The policy holdermust select one of these options at the time the policy is issued.
- Increase the policy’s insured capital (YRT cost) maximum of 8%, or
- Increase the policy’s insured capital (YRT cost) maximum of 8%, with reversal
- Transfer to the suspense account.
To learn more about our insurance products, don’t hesitate to contact a financial security advisor.