You are here > Home > Investments > Products > Access Savings Plan > Features & Benefits

ACCESS SAVINGS PLANS

Features & Benefits

Income Option There is no income option available on this policy.
Partial Surrenders Partial encashments may be made. The minimum encashment value is currently €350.
Full Surrenders A full encashment may be made at any time without penalties except when invested in the Unitised With Profits Fund (see the Canada Life Guide to Investment Funds for details).
Premium Holiday

You may choose to take a premium holiday for up to 6 months (or 1 year if you pay annual premiums) if you have paid at least 6 months’ premiums. If you choose this option, you will stop paying premiums and your policy value will continue to move in line with any changes in fund values and we will continue to apply any charges applicable.

You may choose to take 3 such premium holidays during the life of your policy, provided at least 6 months premiums have been made between each holiday.
Paid Up

You may choose to make your policy ‘paid up’ after 2 years’ premiums have been paid in full. If you choose this option, you will stop paying premiums and your policy value will continue to move in line with any changes in fund values and we will continue to apply any charges applicable. In this situation, all bonuses described overleaf will not apply.

You may only choose this option if your fund value is in excess of €450.
Death Benefit The death benefit is 100% of the fund value on your policy, before the encashment charges are incurred. The policy can be written on a single life basis or joint life first death basis. In the case of a joint life policy, the death benefit is payable on the first death of the two lives.
Accidental Death Benefit In the event of your death due to an accident, an additional death benefit of €25,000 will be paid if you are paying the equivalent of €200 in monthly premiums. For monthly premiums less than €200, the additional death benefit will be €12,500. For further details, please discuss this benefit with your financial advisor.