For our investment and saving products, the benefits, terms and conditions are described generally in our Rules and more specifically in a “Table”.
This is a monthly premium non-qualifying with profit whole of life assurance.
At any time the Sum Assured is equal to the premiums received to date. There is no commitment to pay any premium other than the first. A separate contract applies to each calendar year.
Bonuses. See Rule 4. Bonuses are based on the accumulated sum assured (Sum Assured and Bonuses).
Surrender. Rule 3(8) applies except that contracts written up to 31 December 2012 may be surrendered on the tenth anniversary for a sum not less than the accumulated sum assured. Similar guarantees apply at every anniversary thereafter (for contracts written up to 31 December 2010), or every fifth anniversary thereafter (for contracts written between 1 January 2011 and 31 December 2012).