Can you tell me about participating policies?
This refers to a life insurance policy that gives customers what’s known as ‘dividend’ payments.
Our participating policy has five main features:
Guaranteed loss of life (death) benefit along with other payable benefits
Guaranteed cash value offered for loan or upon surrender
Guaranteed cash coupons at certain designated times
Non-guaranteed dividends every year
Non-guaranteed cash bonuses paid upon certain events, such as loss of life, policy surrender, policy maturity, or when your policy has been active for a certain length of time
Some features are only applicable to in-force plans - i.e. plans that are active.