Ideal Segregated Funds
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Product Name
Ideal Segregated Funds
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Description
Closed to new contract sales effective May 13, 2016 and to subsequent deposits effective October 28, 2022.
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Product type
Segregated Fund Contract
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Original Company
Standard Life
Product snapshot
Important Information |
Closed to new contracts, new premiums and additional premiums. New PAC arrangements may not be set up and existing PAC arrangements cannot be increased. |
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Withdrawals⁴ |
Ad Hoc:
Scheduled (SWP) for Non-registered Savings Plan only:
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Switches² |
Savings plans¹: $250 per fund Payout plans²: $1,000 per fund Platinum No-load: $5,000 per fund |
Age Limits |
Additional premiums: age 100 or earlier where required by legislation Additional premiums are only permitted via an existing PAC agreement and cannot be increased. |
Note:
All transfers and switches will be processed in accordance to our administrative guidelines and may impact your guarantees.
Features
Death guarantee |
Savings Plan¹: Greater of Contract Value or 100% of Net Premium⁶ (75% if the Annuitant is 80 years old of age or older at the time of the first premium payment). Payout Plans²: Greater of Contract Value or 100% of Net Premium⁶ (75% if the annuitant is 80 years old of age or older at the time of the first premium payment) less sum of retirement income payments.
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Maturity guarantee |
Savings Plans only:
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Payout guarantee |
Payout Plans only:
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Income guarantee |
N/A |
Ability to bypass estate costs |
Yes |
Potential for creditor protection |
Yes |
Waiving redemption fees upon death |
Yes |
Ability to name a successor annuitant |
Yes |
Ability to name successor owner |
Contingent contract holder Non-Registered contracts only |
Joint Life Option |
No |
Fees
Management Expense Ratio (MER) |
MERs vary by Fund for more details visit Price and Performance. |
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Other Fees |
Charges may apply for certain transactions including withdrawals and Fund switches. For additional detail, refer to the Information Folder and Contract documentation. |
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Load Options |
No‑load and Platinum No‑load⁵ options |
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Other features |
Resets:
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Sales Charge Options % |
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No-load with reset option (chargeback) |
Back‑end load option |
Up to 1 year |
3% | 6% |
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1‑2 years |
2% |
5% |
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2‑3 years |
1% | 4% |
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3‑4 years |
0% |
3% |
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4‑5 years |
0% |
2% |
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5 years or more |
0% |
0% |
1 Savings plans include: Non‑registered savings plan, TFSA, RSP (including spousal RSP), LIRA, LRSP and RLSP. 2 Payout plans include: RIF (including spousal RIF), LIF, LRIF, Prescribed RIF and RLIF. 3 Platinum No‑load contract minimum must be respected prior to setting up a Systematic withdrawal plan (SWP). 4 Withdrawals and fund switches may result in tax consequences. 5 Platinum No‑load option requires a minimum of $250,000 per contract. 6 The Net Premium is equal to the sum of premiums paid less the sum of proportional reductions for prior withdrawals.
Notes:
- Effective May 26, 2023, the back-end sales charge option no longer allows new deposits, subsequent deposits, new PAC setups, PAC increases and switches in from other sales charges. Switches within the same sales charge option are permitted. Existing investments in back-end will remain and the existing sales charge schedule will apply to any withdrawals.
- There are no withdrawal charges for the No‑load and Platinum No‑load options.
- Under the Back‑end load and No‑load with reset options, withdrawal charges are waived for payment of the Death Benefit Guarantee.
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Important disclosure
The Manufacturers Life Insurance Company (Manulife) is the issuer of insurance contracts containing Manulife segregated funds and the guarantor of any guarantee provisions therein.
This is a quick reference guide only. For full contract provisions, refer to the product’s Information Folder, Contract & Fund Facts.