Laurier Term 10 Basic is the most cost effective guaranteed term product in our term family. The lowest possible price is combined with the security of level term and underwriting flexibility that will satisfy even your most cost conscious clients.

Laurier Term 10 Basic is renewable, with guaranteed premiums and a choice of 'standard' or 'preferred' underwriting. The plan is split into two parts: 'standard' and ‘preferred’. The fully renewable and convertible ‘standard’ plan is available exclusively for clients under age 40 and amounts up to $499,999. The Laurier short form application and minimal underwriting requirements ensure quick processing of your case. A quick and simple solution for your simple term cases, and at a great rate!

The BASIC 'preferred' plan is non-convertible and is only available for clients aged 40 and above. A regular Laurier application and preferred underwriting requirements must be collected to qualify for preferred rates.

Whether standard or preferred, Term 10 Basic offers the client numerous additional benefits and riders. The plan may be purchased as individual coverage or as a rider added to another policy. As usual, a policy fee discount applies to jointly billed policies.

Term 10 Basic is an innovative and effective solution to your simple term insurance needs.

PLAN SUMMARY

Basic Term 10 is a guaranteed renewable term insurance product. The plan is renewable to age 80. The premiums are guaranteed and increase at 10 year intervals. The plan is split into two parts depending on the age of the client :

STANDARD (NON-PREFERRED) PLAN

PREFERRED PLAN

• issue ages : 40 to 70 only (based on age at last birthday)
• minimum face amount :$100,000
• maximum face amount :$5,000,000
• risks classifications :
  
  7 non-smoker classes (Same as Classic Term 10)

5 smoker classes (Same as Laurier’s Classic Term 10)

JOINT POLICIES

Joint first to die policies are available. To obtain the joint rate per thousand of coverage, multiply each rate by 0.95, rounding to the nearest cent, then add them together.

ANNUAL POLICY FEES

Single Life policy $ 75/ year

Joint Life policy $125/ year

A $30 fee discount is available for additional jointly billed policies.

MODAL FACTORS

Semi-annual .52 x total annual premium

• Accidental Fracture Rider
• Accidental Death or Dismemberment
• Waiver of Premium
• Child Protection Rider
• Living Benefits (no charge)
• LifeStream (Critical illness)
• Home Advantage Plan

Please refer to the "Benefits and Riders" rate card for a complete description and rates for each of the above benefits and riders. The only rider permitted on joint plans is the Child Protection Rider. If this option is selected, Accidental Fracture Rider is available on the children only.

UNDERWRITING

Standard Plan:

Standard smoker and non-smoker rates. Under the standard plan, to qualify as a non-smoker, an applicant must not have smoked anything for at least 12 months. Minimal underwriting required. To qualify for the Standard Plan, the applicant must be between 18 – 39 years of age and applying for coverage between $100,000 and $499,999.

Preferred Plan:

The Preferred Plan is available for ages 40 – 70 only and amounts between $100,000 and $5,000,000. Qualification criteria are based on class applied for.

N1 (non-smoker)                          S1 (smoker)

N2 (non-smoker)                         S2 (smoker)

N3 (non-smoker)                          S3 (smoker)

N4 (non-smoker)                          S4 (smoker – standard)

N5 (non-smoker – standard)           S5 (smoker)

N6 (non-smoker)

N7 (non-smoker)