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Ideal Segregated Funds Signature 2.0 - Ideal 100/100 Series

  • Product Name

    Ideal Segregated Funds Signature 2.0

  • Description

    For contracts sold up to May 16, 2016

  • Product type

    Segregated Fund Contract

  • Original Company

    Standard Life

  • Additional series offered under product

    Ideal 75/75 Series Ideal 75/100 Series

Product snapshot

Fund minimum

Savings plans¹: $250 per fund

Payout plans²: $1,000 per fund

Platinum: $5,000 per plan, per fund

Subsequent deposits
  • Closed to all new contracts.
  • Additional premiums into existing contracts (opened prior to May 16, 2016) are allowed.

Deposit Minimums:

  • Savings plans¹: $250 per fund
  • Payout plans²: $1,000 per fund
  • Platinum: $5,000 per plan, per fund

PAC deposits

Savings plans¹: $50 per fund

Platinum: $1,000 per fund³

Maximum deposit

Premiums greater than $10,000,000 or any subsequent premiums that will cause the market value of the contract to be greater than $10,000,000 require pre‑approval.

Withdrawals⁴

Ad hoc:

  • Savings plans¹: $250 per fund
  • Payout plans²: $250 per fund
  • Platinum: $1,000 per plan, per fund

Scheduled (SWP) for Non-Registered plans only:

  • $100 per fund
  • Platinum: $500 per fund³

Switches⁴

Savings plans¹: $250 per fund

Payout plans²: $1,000 per fund

Platinum: $1,000 per fund

Age Limits

Additional premiums: age 100 or earlier where required by legislation

Features

Death guarantee

Death Benefit Guarantee is equal to:

  • Savings Plans¹: Greater of Series Value or 100% of Death Guarantee Value⁵ (75% if the annuitant is 80 years old or older at the time of the first premium payment).
  • Payout Plans²: Greater of Series Value or 100% of Death Guarantee Value⁵ (75% if the annuitant is 80 years old or older at the time of the first premium payment) less sum of scheduled retirement income payments received since first premium payment or last reset date.
  • Automatic resets of the Death Guarantee Value every 3 years until Annuitant reaches age 70. A final reset may occur on the Series Anniversary Date following the Annuitant’s 70ᵗʰ birthday.

Maturity guarantee

Savings Plans¹ only:

  • Maturity Benefit Guarantee is equal to the greater of Series Value or 100% of Maturity Guarantee Value⁷ on the Series Maturity Date.
  • Client may change the Series Maturity Date but must be at least 15 years from the date of the first premium payment or last reset date.
  • For additional premiums that do not meet the 15-year minimum requirement,  we will use 75% of the additional premiums for the purpose of calculating the Maturity Benefit Guarantee.
  • Up to 2 client‑initiated resets of the Maturity Guarantee Value per calendar year.

Payout guarantee

Payout Plans² only:

  • Payout Benefit Guarantee equal to at least 100% of Maturity Guarantee Value⁷ paid as income payments over the lifetime of the Series.
  • Series must be in force at least 15 years from 1ˢᵗ premium payment or last reset date.
  • Dollar‑for‑dollar reductions on scheduled retirement income payment.

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 owner⁵

Contingent contract holder for Non-Registered contracts only

Joint Life Option

No

Fees

Management Expense Ratio (MER)

MERs vary by Fund for more details visit Price and Performance.

Sales Charge Options (Premium Allocation Options)

A sales charge option may be paid at the time of deposit or on a deferred basis depending on the load option chosen.

Refer to Sales Charge Options section for more information.

Other Fees

Charges may apply for certain transactions including withdrawals and Fund switches.

For additional detail, refer to the Information Folder and Contract documentation.

Load Options

Back‑end load, Low‑load, No‑load, Platinum No‑load and F-Class

Sales Charge Options %

 

Back‑end load option

Low‑load option

Up to 1 year

6%

3%

1‑2 years

5%

2%

2‑3 years

5%

1%

3‑4 years

4%

0%

4‑5 years

3%

0%

5‑6 years

2%

0%

6‑7 years

1%

0%

7 years or more

0%

0%

Notes:

  • There are no withdrawal charges for the No‑load, F-Class and Platinum No‑load options.
  • Under the Back‑end load and Low‑load options, withdrawal charges are waived for payment of the Death Benefit Guarantee.

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 setting up a Pre‑authorized Chequing (PAC) or a Systematic withdrawal plan (SWP). 4 Withdrawals and fund switches may result in tax consequences. 5 In the province of Quebec, a successor owner is known as a subrogated policyholder. 6 Death Guarantee Value is equal to the sum of premiums paid less the sum of proportional reductions for prior withdrawals. 7 Maturity Guarantee Value is equal to the sum of premiums paid less the sum of proportional reductions for prior withdrawals.

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.

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