Universal Life Insurance - Standard Life

Protection Solutions
Your guide to
Perspecta
Universal Life Insurance
with Standard Life
Making Retirement Better
Grow. Protect. Live. Transfer.

Hello.

Perspecta Universal Life Insurance
Thanks to the various resources available to keep them
well informed, more and more people are actively
participating in their own financial planning. They see
the opportunities out there and want to take advantage of
them to ensure their financial security.
Taking the time to review their options, and the benefits
they provide, is important. In addition to protecting their
assets, your clients want to build their finances so they’ll
have something to fall back on in case of an emergency.
Whether they have a family to protect or own a business,
universal life insurance can help your clients with their
specific situation.
Standard Life 1

Perspecta Universal Life Insurance
Offer your clients the coverage
that best suits their needs
2 Standard Life
Perspecta universal life insurance is more than just insurance; it provides a complete
portfolio with fi nancial security all in one policy. It can be used for traditional protection
purposes, or when used to its fullest potential, for investment purposes as well.
With the possibility of a compassionate benefi t and disability benefi t payout, as well as
the addition of critical illness insurance riders, Perspecta also offers protection against
health risks. All this, while still providing a source of tax-sheltered income that can
supplement income already obtained through registered retirement plans.
How Perspecta
can be used from
an investment
perspective
See page 4
Types of coverages
Life Profiles
Preferred Rates
Program
See page 7
See page 8

Perspecta Universal Life Insurance
Death benefit
options
Client bonuses
See page 11
See page 12
All about the
Account Optimizer
See page 15
In case of discrepancy between this document and the policy, the policy prevails.
Resources
See page 26
All about the
Shelter Optimizer
See page 15
Investment options
See page 16
Standard Life 3

Perspecta Universal Life Insurance
From an investment perspective
With the right approach, the goal of maximizing the value of investment accounts
during the insured’s lifetime can be reached. In such a situation, the YRT-100 COI is a
good choice.
4 Standard Life
Here are some typical client scenarios:
Leveraging
Jonathan and Mary Ann, aged 50 and 48
respectively, plan to retire in 12 years when
Mary Ann is 60 years old. They have paid off their
mortgage and have extra cash to invest. They
both contribute the maximum permitted to their
RRSPs and have no more unused contribution
room. They are looking for a way to increase their
retirement income on a tax-sheltered basis.
Solution:
They buy a Perspecta universal life insurance policy
into which they will deposit an amount equal to
their monthly mortgage payment of $1,200 plus
an additional $500 each month.
Along with their insurance representative, they
have decided on the following:
• Perspecta Universal Life policy
• Using YRT-100 COI
• Account Optimizer with quick deposit feature
• The policy will be assigned as collateral with the
bank
At retirement, Jonathan and Mary Ann will have
access to additional retirement funds through a
series of loans received from their bank. Upon
death, the cash value of their policy will be used
to pay back the loans with the balance payable to
their heirs on a tax-free basis.
Buy sell agreement
Philip, age 57, is the main shareholder in a family
business that manufactures metal structures. His
children, Mark, 37, and Joanne, 35, have received
an inheritance from their grandfather. They plan to
invest the money to provide suffi cient funds to pay
the taxes due on Philip’s shares upon his death.
Philip has established an estate freeze in order to
pass on the future growth of his business to his
children and freeze his tax bill at $500,000.
Solution:
Mark and Joanne use their inheritance to buy a
Perspecta universal life insurance policy on their
father’s life:
•
•
•
YRT-100 COI
Use inheritance to make single deposit into
policy with Account Optimizer
Use Shelter Optimizer to provide the proper
combination of fund value and death benefi t
Upon his death, Philip’s children can use the
death benefi t to pay the capital gains tax on their
father’s shares.

Perspecta Universal Life Insurance
From an investment perspective
Key person insurance
Simon, Robert and Kathy are the managers of an
IT fi rm. Without them, most projects could not be
completed and contracts would probably not be
signed. Keeping the same 3 managers until their
retirement would be ideal for the fi rm to continue
running smoothly. Nonetheless, money should
be available in case one of them leaves the fi rm or
should die unexpectedly.
Solution:
In an effort to encourage the three managers to
remain on board with the fi rm throughout their
careers, a plan has been put together. A Perspecta
universal life insurance coverage is purchased
on the life of each manager with the fi rm as the
benefi ciary. For each coverage, the following
options apply:
•
•
•
YRT-100 COI
Increasing death benefi t
Account Optimizer with quick deposit
Upon their retirement, the cash value for each
coverage could be used to provide additional
retirement income for Simon, Robert and Kathy.
Mortgage protection
Sophie and Anthony, both in their mid-thirties,
want to protect their fi nancial security by insuring
their mortgage.
Solution:
They buy a Perspecta universal life insurance
policy, including:
•
•
•
Joint First To Die coverage
YRT-100 COI
Level death benefi t
If one of them dies, the surviving spouse can pay
off the mortgage. If the mortgage is paid before
either of them dies and they no longer need
life insurance, or need less coverage, they can
surrender the policy, in full or in part. The amount
received can be used in any way they want. If they
become disabled before the mortgage is paid off,
they could receive the cash value as a tax-free
disability benefi t.
For more information on the various options
available with universal life insurance, please refer
to our marketing material on Advisor Source at
www.advisors.standardlife.ca in the Perspecta
Universal Life Insurance – Sales Concepts section.
You can also ask your sales offi ce about our Business
Markets Program.
Standard Life 5

Perspecta Universal Life Insurance
Product overview
Product overview
Type of
coverage
6 Standard Life
Issue Age Minimum
sum insured
Maximum
sum insured*
Types of COI
rates
Single Life 15 days to age 80 $50,000 No maximum • YRT 100
Joint First to Die
(up to 5 lives)
Joint Last to Die
(paid up on fi rst
death)
Equivalent age 18
to 80
Equivalent age 18
to 80
•
•
YRT 85/20
Level
$50,000 No maximum • YRT 100
• Level
Death benefit
options
•
•
•
•
•
•
Increasing
Level
Hybrid
Increasing
Level
Hybrid
$50,000 No maximum • Level
• Increasing
Joint Last to Die Age 18 to 80 $50,000 No maximum • YRT 100
• Level
Multiple Life
(up to 5 coverages)
15 days to age 80 $50,000 No maximum • YRT 100
• YRT 85/20
• Level
* There is no maximum sum insured. However, for a sum insured greater than $5 million, please contact your Standard Life Regional Centre.
•
•
•
Increasing
Level
Hybrid
• Multiple
increasing

Perspecta Universal Life Insurance
Types of coverage
Types of coverage
Single Life
Joint First to Die
Maximum of fi ve lives.
Joint Last to Die
Two options are available and may be chosen
concurrently:
Joint Last to Die, Paid up on First Death
Upon the fi rst death, the cost of insurance and
the fi xed expense charges cease to be deducted.
However, the cost of any riders and benefi ts will
continue to be deducted.
Joint Last to Die, Fund Payment at First Death
A percentage of the investment account value
(IAV) is made to the designated benefi ciary upon
the fi rst death. Written instructions are required.
Maximum benefi t amount = IAV – (12 X
monthly deductions applicable after death)
Perspecta multiple life policy
• Maximum of fi ve coverages (excluding Perspecta
Joint Last to Die - Paid up on First Death)
• Addition of new coverages at any time
• Unlimited number of riders and benefi ts
• Possibility of substituting new insureds for those
originally chosen
• Possibility of removing coverages or splitting
policies
Three options for the allocation of the investment
account value at death:
• A proportion of the IAV (based on each sum
insured) is paid upon each death that terminates
a Perspecta coverage.
• A percentage of the total IAV is paid upon each
death (excluding the last) that terminates a
Perspecta coverage.
• The total IAV is paid upon the death that
results in the termination of the last Perspecta
coverage.
Please see the policy for more details.
Standard Life 7

Perspecta Universal Life Insurance
Cost of insurance (COI) options
Life Profiles Preferred Rates Program
Cost of insurance (COI) options
8 Standard Life
Yearly Renewable Term 100
(YRT-100) COI
• The rate changes each year
• Cost of insurance ceases when the insured
reaches age 100
• Available with the level, increasing, hybrid or
multiple increasing death benefi t options
• Available with all types of coverage except a
Joint Last to Die, Paid up on First Death policy
Yearly Renewable Term 85/20
(YRT-85/20) COI
The rate changes each year
Cost of insured ceases when the insured
reaches age 85 or at the 20th •
•
policy anniversary,
whichever is later
• Available with an increasing or multiple
increasing death benefi t
• Available on single life policies
Level COI
• The cost of insurance remains constant until the
insured reaches age 100
• Available with an increasing or hybrid death
benefi t
COI based on:
•
•
Age • Lifestyle
Gender • Medical history
Sums insured of $100,000 and more
•
•
3 categories of non-smoker rates
2 categories of smoker rates
Sums insured between $50,000 and
$99,999 (standard rates)
• Non-smokers are classifi ed as profi le 3
• Smokers are classifi ed as profi le 5
Profile 1
People with healthy lifestyles who have excellent
personal, family and medical histories.
Profile 2
People with healthy lifestyles who have very good
personal, family and medical histories.
All cost of insurance rates are
guaranteed for the:
• Duration of the policy
• Initial sum insured
• Initial death benefi t option chosen
Subject to certain fees, the YRT-100 or YRT-85/20 cost
of insurance can be changed to a level cost of
insurance before the insured reaches age 85. If a level
death benefi t option was chosen, the death benefi t
must be changed to increasing before the COI can
be changed to level COI. In all cases, changing to
level COI is based on the insured’s insurance age at
the time the change is made.
Rate Banding
Band 1*: Sum insured of $50,000 to $99,999
Band 2: Sum insured of $100,000 to $999,999
Band 3: Sum insured of $1 million or more
* Sums insured between $25,000 and $49,999 fall
under Band 1 and are only available for voluntary
increases after the policy has been issued.
Life Profiles Preferred Rates Program
Profile 3
People with healthy lifestyles who have not
smoked in the last 12 months.
Profile 4
People with healthy lifestyles who do not smoke
cigarettes or use nicotine products (e.g., nicotine
patch or gum) but who use any one of the
following: cigars, pipes or chewing tobacco on
occasional basis.
Profile 5
People with healthy lifestyles who smoke cigarettes
or use nicotine products and may use cigars but do
not qualify for profi le 4.
For more information, please refer to
Your Guide to Underwriting With Standard Life.

Maintaining a
healthy lifestyle can
save your clients
money – thanks to our
Life Profiles Preferred
Rates Program.
Standard Life 9

Perspecta Universal Life Insurance
Premium payment
Monthly charges
Premium payment
10 Standard Life
The client decides the amount of each deposit and
the frequency of the payments. He can pay them:
• Annually
• Semi-annually
• Quarterly
• Monthly
The fi rst year minimum premium (necessary to
keep the policy in force) varies according to:
• The cost of insurance selected
• The policyholder’s province of residence
In subsequent years, no minimum premium is
required and the policy remains in force as long as
the investment account value is greater than the
monthly deductions.
Monthly charges
Total Monthly charges include:
•
•
•
•
•
•
The cost of insurance*
Provincial tax on premiums
$8 per month* per policy
$2 per month* for each Perspecta coverage
Costs of riders and benefi ts
Flat extra charges
* These amounts will no longer be deducted once
the Perspecta coverages are paid up.
Monthly charges can be deducted by one
of two methods:
Proportionate (Method 1)
The amount is deducted proportionately according
to the value of each investment account. In the
case of the Term Investment Accounts (TIAs),
charges are withdrawn from the Account closest
to maturity. Market value adjustments are not
applicable to monthly deductions from the TIAs.
Selected (Method 2)
The policyholder selects the account from which
the charges will be deducted; he/she may choose
any account other than a term investment account
with a term of more than one year.
On each policy anniversary, a yearly maximum
premium is calculated. This premium determines
the maximum amount that can be deposited into
the policy’s investment accounts in a given year in
order to maximize the amount invested without
losing the policy’s tax-exempt status.
Any amounts exceeding the annual maximum
premium will be automatically transferred to
the policy’s transit account. This is a daily interest
account where all interest earned is taxable. The
funds in the transit account are available to the
policyholder at any time and are not included in
any death benefi ts paid to the benefi ciaries.
If there is not enough money in the selected
account at the time the COI charges come due,
Method 1 will be employed by default for that
month. The owner may switch from one method to
the other at any policy anniversary.
Flat Extra Charges
Determined by the Underwriting Department, these
charges may apply temporarily or permanently for
an insured whose health is impaired or who engages
in activities that increase risk.
Table of provincial premium tax rates
Province Percentage
Newfoundland & Labrador 4%
Northwest Territories 3%
Nunavut 3%
Nova Scotia 3%
Prince Edward Island 3.5%
Quebec 2.35%
Saskatchewan 3%
All other provinces 2%
Note: Provincial Premium Tax rates are determined by
legislation and are subject to change.

Perspecta Universal Life Insurance
Death benefit options
Death benefit options
Sum Insured
Level
The greater of:
the sum insured
MINUS
any disability benefi ts paid out
AND
the investment account value (IAV)
Available with YRT-100 COI.
Sum Insured
Increasing
The sum insured
MINUS
any disability benefi ts paid out
PLUS
the IAV
Available with all types of COI.
Investment Account Value
Investment Account Value
Sum Insured
Hybrid
Investment Account Value
The sum insured
MINUS
any disability benefi ts paid out
PLUS
the greater of: IAV
AND
the sum of all deposits to IA, without interest,
LESS
any withdrawals and associated charges
Available with YRT 100 or Level COI. The excess of the
sum of all deposits in the investment account value is
based on a YRT 100 COI.
Investment Account Value
Sum Insured – insured 1
Sum Insured – insured 1
Multiple increasing
Sum of all deposits
The sum insured
PLUS
the portion of the investment account value of the
portion selected by the policyholder
Available under Multiple Life policies only with all
types of COI .
Note: Clients can change the death benefi t option chosen at any time. The Hybrid death benefi t option is the
sole option that is offered only at the time the policy is issued. Standard Life may request evidence of
insurability at the time the change is made.
Standard Life 11

Perspecta Universal Life Insurance
Change of sum insured
Client bonuses
Change of sum insured
Client bonuses
12 Standard Life
Minimum increase: $25,000
Minimum decrease: $10,000
No decreases permitted in the first two years
If the option is chosen at issue, all increases, with the exception of automatic Shelter Optimizer increases,
are subject to underwriting requirements as well as the COI rates in effect at the time of the request. For
automatic increases with the Shelter Optimizer, the rates are those in effect at the time the coverage is issued.
Loyalty bonus
Unconditionally guaranteed as long as the policy
remains in force
0.7% of the investment account value at the end
of the policy year
LESS
any outstanding loan balance
Enhanced bonus
•
•
Two levels
A percentage of the investment account value
It is paid at the end of the policy year if the
following conditions are met:
The premium qualifying for a Tier 1 enhanced bonus
of 0.3% is equal to:
From the policy issue date to the relevant
anniversary, the sum of all deposits made to the
investment accounts (less any withdrawals, loans
and surrender charges) must be greater than the
sum of the Enhanced Bonus Qualifi cation Premium
(EBQP) (Tier 1) of all coverages for each year, plus
any fl at and/or multiple extra charges.
EBQP: 1.6 X fi rst year minimum premium* (for
each Perspecta coverage, excluding riders, benefi ts
and fl at extra charges)
PLUS
the cost of additional riders and benefi ts and fl at
extra charges
The premium qualifying for a Tier 2 enhanced bonus
of 0.2% (or 0.5% if certain conditions are met, see
following page for details) is equal to:
From the policy issue date to the relevant
anniversary, the sum of all deposits made to the
investment accounts (less any withdrawals, loans
and surrender charges) must be greater than the
sum of the Enhanced Bonus Qualifi cation Premium
(EBQP) (Tier 2) of all coverages for each year, plus
any fl at and/or multiple extra charges.
EBQP: 2.35 X fi rst year minimum premium* (for
each Perspecta coverage, excluding riders, benefi ts
and fl at extra charges)
PLUS
the cost of additional riders and benefi ts and fl at
extra charges.
* The calculations are based on Level cost of
insurance.

Perspecta Universal Life Insurance
Client bonuses
Summary of bonuses
If the conditions mentioned in the previous page are met and all Perspecta coverages are based on the
YRT cost of insurance rate, the Enhanced Bonuses will be determined in accordance with the following
scale:
Bonus Type Bonus Rate
Tier 1 0.30%
Tier 2 0.50%
If all the conditions mentioned in the previous page are met and at least one Perspecta coverage uses
the Level cost of insurance rate, or COI is switched from YRT to Level, the Enhanced Bonuses will be
determined in accordance with the following scale:
Bonus Type Bonus Rate
Tier 1 0.30%
Tier 2 0.20%
The bonus rate for Tier 1 is added to the bonus rate for Tier 2 if the second condition is met.
If the conditions applicable to the respective Tier of the enhanced bonuses are met on or after the 10 th
policy anniversary, the bonus will be paid for the duration of the policy.
The initial Enhanced Bonus Qualifi cation Premiums for Tiers 1 and 2 are shown on the Annual Statement.
The Enhanced Bonus Qualifi cation will change if the sum insured is increased, if a new coverage is added
or if monthly deductions for riders and benefi ts change.
Standard Life 13

Perspecta Universal Life Insurance
Shelter Optimizer
Shelter Optimizer
14 Standard Life
This option, selected by the policyholder at issue, allows the sum insured under the Perspecta coverage
to be adjusted to take full advantage of the tax-exempt room available to life insurance policies.
The Shelter Optimizer is available with all Perspecta policies, excluding Paid up on First Death policies.
For Multiple Life policies, the option must apply to all coverages. The cost of this coverage is based on
YRT-100 COI.
At issue, the policyholder must select one of the following options:
1. Increase only
2. Increase and decrease
3. No increase and No decrease
In the absence of specifi c instructions, the “No Increase and No Decrease” option will be exercised.
Increase only and increase and
decrease options
Under these options, if the policy fails the taxexempt
test, or if the policyholder has deposited
the yearly maximum premium shown on his/her
most recent Perspecta statement, the sum insured
of all Perspecta coverages then in force under
the policy will automatically be increased by a
percentage not exceeding 8% per year.
A Perspecta coverage will no longer be subject to
these automatic increases when:
• the total sum insured for that coverage equals
four times the initial sum insured,
• the total sum insured for an insured reaches
$20 million, or
• the insured reaches age 85, whichever comes
fi rst.
However, for Multiple Life policies, the Shelter
Optimizer option may continue to generate
automatic increases for remaining Perspecta
coverages.
Following an increase due to the Shelter Optimizer
option, there are three coverage decrease limits
available. The owner may reduce the sum insured
until it reaches:
•
•
•
the value of the initial sum insured,
an amount specifi ed by the owner (which could
be lower than the initial sum insured if the policy
has been in force for at least 5 years)
the minimum sum insured available for a
Perspecta coverage.
For a decrease in the sum insured, a written
request must be sent to Standard Life. The amount
of the decrease could be equal to or less than the
amount indicated on the Perspecta statement.
Any decrease larger than that indicated on the
Perspecta statement will cause the policy to fail the
tax-exempt test, making a withdrawal or transfer
to the Transit Account necessary. Decreases will be
made on the monthly deduction date following
the receipt of the owner’s instructions.

Perspecta Universal Life Insurance
Shelter Optimizer
Account Optimizer
No Increase and No Decrease
option
If this option is chosen, no automatic adjustment
will be made to the sum insured of the Perspecta
coverages and the owner will not be advised of the
possible decreases.
If the owner refuses an automatic increase in
writing within 30 days after the policy anniversary,
the Shelter Optimizer option will become No
Increase and No Decrease.
Account Optimizer
When combined with the Shelter Optimizer, this
“solve-for” in our Wealthcare Illustration System
allows the client’s investment accounts to be
maximized while minimizing the sum insured
under the policy thus reducing the cost of
insurance. At the later of age 85 and duration 10,
the sum insured may be $0, meaning the net cost
of pure insurance is zero. This means that only the
value of the investment accounts remains.
There are two ways to make deposits: a
single deposit using the transit account or by
“quick deposit”.
After issue, the owner may select the Increase
and Decrease or the Increase Only options, but all
insureds under all Perspecta coverages will be
subject to underwriting requirements.
For single deposits, we suggest using the transit
account for a period of 3 to 10 years. As a general
rule, clients should use the transit account for a
period of 3 to 5 years for insureds of 45 years or
younger and 5 to 10 years for insureds of 45 years
or older.
For “quick deposits”, the investment account is
optimized through a series of deposits made over
a given period. The client is free to choose the
amount of the deposit and the payment period.
In the Wealthcare Illustration System, use the
Account Optimizer with quick deposit option to
determine the period and amount that best suits
your client’s situation.
Standard Life 15

Perspecta Universal Life Insurance
Investment options
Investment options
16 Standard Life
The policyholder may choose how deposits are to be allocated among the investment
accounts. However, the minimum deposit allocated to any single investment account
is 5% of each deposit. If the policyholder selects more than one term investment
account, a minimum deposit of $50 per account is required. The maximum number of
accounts per policy is 10.
Our investment options meet the needs of all types of investors, including those who
are more familiar with investment accounts as well as those who prefer to leave the
management of their investment accounts to the professionals. We offer the following
accounts:
Active Management
Fixed Income
Standard Life Canadian Bond Account
Standard Life Corporate High Yield Bond Account
Standard Life International Bond Account
Balanced
Standard Life Monthly Income Account
Standard Life Balanced Account
Canadian Equity
Standard Life Canadian Dividend Growth Account
Standard Life Canadian Equity Account
Standard Life Canadian Small Cap Account
U.S. Equity
Standard Life U.S. Equity Account
Standard Life U.S. Mid Cap Account
International Equity
Standard Life Global Dividend Growth Account
Standard Life International Equity Account
Standard Life Global Equity Account
Standard Life European Equity Account
Predetermined Portfolio Accounts
Standard Life Conservative Portfolio Account
Standard Life Moderate Portfolio Account
Standard Life Growth Portfolio Account
Standard Life Aggressive Portfolio Account

Perspecta Universal Life Insurance
Investment options
Passive Management
Indexed Accounts
Money Market Index Account
Canadian Bond Index Account III
Canadian Equity Index Account III
U.S. Equity Index Account II
European Equity Index Account II
EuroAsia Plus Equity Index Account II
Science and Technology Equity Index Account
Strategic Asset Allocation Accounts
Conservative Asset Allocation Account
Moderate Asset Allocation Account
Growth Asset Allocation Account
Aggressive Asset Allocation Account
Term Investment Accounts
Term Investment Account of 1 year
Term Investment Account of 3 years
Term Investment Account of 5 years
Term Investment Account of 10 years
Term Investment Account of 15 years
Term Investment Account of 20 years
The minimum Term Investment Account interest
rate for each term is guaranteed to equal the
greater of 90% of the Government of Canada
Bond rate for the same term, less 1.75%, and the
percentage minimum for that term, as shown
below:
0% for 1- and 3-Year Term Investment Accounts
1% for 5-Year Term Investment Account
2% for 10-, 15- and 20-Year Term Investment
Accounts
These guarantees apply to each Term Investment
Account mentioned above, as long as the account
is available. We also guarantee to offer, as long as
the policy is in force, at least one Term Investment
Account.
Daily Interest Account
As long as the account is available, we guarantee
the interest rate will never be less than zero.
For more information on the accounts available,
please see the Marketing Materials section of Advisor
Source at: www.advisors.standardlife.ca.
Change to or Termination of an
Investment Option
If an index is no longer published, Standard Life
will endeavor to replace it with another Investment
Option, which we judge similar to the original
investment. Standard Life also reserves the right to
switch the investment from the Investment Option
that has been terminated to the Investment
Option that we judge comparable at that time.
Standard Life also reserves the right to change or
terminate an Investment Option for such other
reasons as Standard Life may in its sole discretion
deem reasonable.
Standard Life 17

Perspecta Universal Life Insurance
Cash value
Cash value
18 Standard Life
The policyholder can access the cash value of his Perspecta policy through a cash
withdrawal (full or partial).
The cash value is equal to the total investment accounts, less surrender charges,
outstanding policy loans and, in the case of term investment accounts, market value
adjustments.
Full surrender
The policyholder may elect to surrender the entire
policy at any time, in which case the cash value
and, if applicable, the value of the transit account
will be paid to the policyholder. A full surrender
will terminate the policy.
Partial surrender
A partial surrender is the withdrawal of a portion
of the cash value. The maximum allowed is the
cash value less any outstanding policy loans
and three times the monthly deductions. The
minimum for a partial surrender is $500. Partial
surrenders may be subject to income tax and, in
the case of term investment accounts, to market
value adjustments.
Withdrawals are taken from the policy’s
investment funds according to the owner’s
instructions. In the absence of instructions all
withdrawals are fi rst taken from the transit
account. Withdrawals from the TIAs are made from
the fund segment closest to maturity.
Any withdrawals will reduce the Investment Fund
Value by the amount of that withdrawal. In the
case of the Level Death Benefi t option, withdrawals
will reduce the sum insured while, in the case of
the Hybrid Death Benefi t option, withdrawals will
reduce the return of premiums component.

Policy loans
Perspecta Universal Life Insurance
Cash value
Policy loans
In addition, surrender charges corresponding to a percentage of the fi rst year minimum premium,
calculated using Level cost of insurance, apply for the nine years following the issuance of Perspecta
coverage or an increase to the sum insured requested by the client.
Full Surrender Charges are calculated as follows:
Policy Year Surrender Charge (% First Year Minimum Premium1 )
1 125%
2 175%
3 225%
4 275%
5 275%
6 275%
7 200%
8 150%
9 75%
10 and over 0%
1 Calculated using Level COI.
Only a portion of the surrender charge applies when the client is withdrawing only a portion of the
investment accounts. The surrender charges for partial withdrawals are equal to:
•
•
•
•
Policy loans may be granted at any time after the fi rst policy year
The minimum loan amount is $500
After the third policy year, the maximum loan amount is 85% of the cash value
Policy loans can be made in policy year two, but the maximum amount may vary
Contact our head offi ce for more information if needed.
The annual interest rate charged on the loan =
the interest rate of the daily interest account,
PLUS
2%.
Full Surrender Charge × Withdrawal Amount
Investment Account Value Net of Policy Loans
The policy will remain in force as long as the loan balance (loan amounts plus accrued interest) is less
than the cash value.
Standard Life 19

20 Standard Life
With the addition of a
CI rider to their policy,
your clients can have
complete protection.

Perspecta Universal Life Insurance
Riders and additional benefits
Riders and additional benefits
10 year and 20 year renewable and
convertible term insurance riders
• 10- or 20-year terms
• Automatic renewal
• Coverage to age 85
• Change in premium every 10 years or 20 years
(premium guaranteed at issue)
• Convertible to any permanent insurance plan
before age 65
Protecta critical illness insurance riders
(4 or 24 illnesses)
Protecta 10
Protecta 65
Protecta 65 – joint coverage
Protecta 75
Protecta 100
Protecta Child (13 illnesses)
Children’s protection rider
• Sum insured between $2,000 and $20,000, level
insurance
• Covers only one child
• Age at issue: 15 days to 17 years
• Coverage to age 25 or wedding date, whichever
is fi rst
• Convertible to any available insurance coverage
31 days before expiry date
Children’s enhanced protection rider
Provides the same sum insured as children’s
protection rider, but includes guaranteed
insurability. This permits the life insured to
purchase additional insurance at specifi ed option
dates as long as the sum insured for the new
coverage is no greater than 5 times that of the
rider.
Guaranteed Insurability Benefit (GIB)
• Available at the time of issue for insureds aged
40 or less
• Choice of sum insured between $10,000 and the
lesser of $100,000 and twice the sum insured of
the policy to which the GIB is attached
• Benefi t may be exercised on any of the occasions
specifi ed in the policy
Accidental Death Benefit
• Additional amount of insurance paid to the
benefi ciary if the insured dies as a result of an
accident
• Minimum coverage of $10,000
• Maximum coverage for insureds 15 days to
25 years of age is the lesser of $100,000 and the
sum insured under the Perspecta policy
• Maximum coverage for insureds between age
25 and 65 is the lesser of $300,000 and the sum
insured under the Perspecta policy
• Benefi t ceases at age 70
Waiver of costs on disability
• Waiver of premiums during the disability of the
policyholder or the insured before age 60, up to
date of recovery or death of the policyholder or
the insured
• Covers waiver of premiums related to future
increases in sum insured under the Shelter
Optimizer option.
• The benefi t expires upon recovery or death of
the person insured
In addition, any voluntary increases in the sum
insured may also be waived, provided a new
waiver is issued for the voluntary increase. To
obtain the new waiver, the insureds will be subject
to the then current underwriting requirements,
waiver costs and administrative rules.
Standard Life 21

Perspecta Universal Life Insurance
Riders and additional benefits
22 Standard Life
Enhanced waiver on disability
• Waiver of an amount selected by the
policyholder, subject to certain conditions,
in the event the insured under this coverage
becomes disabled (please refer to the policy)
• The waiver period is also selected by the
policyholder, and is subject to certain conditions
The minimum amount is $1,800 per year and the
maximum is the lesser of:
• $18,000 and
• 200% of the First Year Minimum Premium
(or $1,800 whichever is greater)
Issue Age Period1 18 to 50 10 Years
18 to 40 20 Years
18 to 44 To Age 50
18 to 54 To Age 60
• The benefi t expires upon recovery or death of
the person insured
1 Corresponds to coverage period and maximum
waiver period set by the company. In all cases,
the minimum waiver period is 10 years.
Death and disability waiver
• Available for policies where only children are
covered
• Waiver of an amount selected by the
policyholder in the event he/she dies or
becomes disabled on the earlier of the following:
before the insured reaches age 25 or before the
policyholder reaches age 60
• The amount selected by the policyholder at
issue may not exceed $1,500 per month or
$18,000 per year
The amount to be waived may be changed
(subject to underwriting requirements) after the
issue date. This benefi t is not available for policies
containing more than one juvenile Perspecta
coverage.
Survivor’s insurance benefit 65 or 70
• Survivors of Joint First to Die policies have
the option of purchasing any insurance plan,
without evidence of insurability
• Sum insured under the new policy must be the
same as under the original coverage
•
Right may be exercised by survivors under
65 years of age or 70 years of age, depending
on the benefi t selected
If there is more than one survivor, they can each
elect to take out a Single Life Policy or a Joint
First to Die policy among them.

Perspecta Universal Life Insurance
Disability benefit payout
Compassionate benefit
Disability benefit payout
For any Perspecta policy with only one coverage in force and with a cash value greater than zero, an
insured aged 18 or older suffering from a severe physical or mental impairment may receive a disability
benefi t, subject to the conditions defi ned in the policy.
The benefi t consists of a portion of the cash surrender value and the amount paid out is based on the
following conditions:
a) One lump sum disability benefi t payment will be permitted in any policy year.
b) The minimum amount of each payment must be the lesser of $2,500 and the maximum amount
allowed, as defi ned in c) below.
c) The maximum amount allowed for each payment will be determined on the effective date of the
claim. It equals the cash value minus the equivalent of one year’s monthly deductions and any
outstanding loan balance.
d) Surrender charges do not apply.
Currently, disability benefi ts are not subject to income tax. Please refer to the policy for a defi nition of
disability and information about conditions and exclusions.
Compassionate benefit
If the insured suffers from a terminal illness, we can help in our own way by offering him an advance
payment on the policy’s death benefi t.
This non-contractual compassionate benefi t is offered at no additional charge. The cash advance can be
as high as 50% of the death benefi t to a maximum of $100,000. In addition to helping the insured cover
costs related to his condition, this benefi t could allow a signifi cant other, a family member, or someone
close to the insured to take a leave of absence from work to be with him when he needs them most.
Certain requirements must be met to be eligible for the benefi t:
•
•
•
If the insured suffers from a terminal illness
with a life expectancy of 12 months or less, the
policyholder can draw against his life insurance
policy while the insured is still alive.
The insured must provide a medical certifi cate,
issued in writing by a physician regarding his or
her state of health. Such certifi cate must meet
Standard Life’s criteria, and we reserve the right
to require additional information.
The policy must have been in force for at least
two years.
•
•
•
•
The settlement takes the form of a collateral
policy loan.
The interest on the loan is based on the rate
then applicable for policy loans and remains
fi xed afterwards.
Upon the death of the insured, the initial death
benefi t, less the policy loan and the accrued
interest on the loan, is paid to the benefi ciary.
Since it is a non-contractual benefi t, the cash
advance received is tax-free.
Standard Life 23

Perspecta Universal Life Insurance
Taxation
Taxation
24 Standard Life
Standard Life tests the Perspecta policy regularly to ensure it retains its tax-exempt status.
If the Perspecta policy fails the tax-exempt test, Standard Life will automatically restore the policy’s
tax-exempt status, according to the owner’s instructions, by:
1. transferring the excess money to the Transit Account,
OR
2. sending the excess money directly to the owner.
Both cases constitute a partial withdrawal and, therefore, may be subject to taxation. In the absence of
instructions from the owner, the excess amount will be transferred to the Transit Account.
As tax-exempt room becomes available, the funds will be transferred back into the investment funds and
allocated according to your instructions.
All interest earned in the Transit Account is taxable and the appropriate tax receipts will be forwarded to
the owner.
Taxation on Surrender
A portion of any withdrawal will be taxable when the value of the investment funds is greater than the
policy’s Adjusted Cost Base (ACB). For the purposes of this document, the ACB is the deposits made into
the tax-sheltered accounts less the net cost of pure insurance, less the cost of any riders, benefi ts and
extra premiums.
To help you better understand tax matters related to our protection solutions, we have developed a
publication called Taxing Issues, which can be found on Advisor Source at www.advisor.standardlife.ca.
For more information on the taxation of universal life insurance, you can consult the documents listed
below.
The Tax Implications of Corporate-Owned Life Insurance PC 5675-04-2006
Savings Available Where Corporate Dollars are Used to Acquire Life Insurance PC 5676-04-2006
Life Insurance: Corporate vs. Personal Ownership PC 5707-04-2006
Corporate vs. Personal Ownership Checklist
The Intergenerational Wealth Transfer of Life Insurance Policies
PC 5718A-05-2006
(Cascading Policies) PC 5850A-05-2006

Perspecta Universal Life Insurance
Resources
Resources to help you
better serve your clients
We know you want to provide your clients with the best possible service and we want
to do the same for you. You can count on us to give you the support and tools you
need to advise your clients.
Advisor Source Web site
You will fi nd all the marketing material you need, in PDF format, to sell Perspecta in
Advisor Source at: www.advisors.standardlife.ca. You can also contact your sales
offi ce or general agent for hard copies.
Sales Support
For more information on Perspecta universal life insurance, please contact your sales
offi ce or your nearest Standard Life regional centre.
Eastern Region
eastern@standardlife.ca
Western Region
western@standardlife.ca
Central Region
central@standardlife.ca
Standard Life 25

Retirement
Investments
Insurance
Talk soon.
www.standardlife.ca
The Standard Life Assurance Company of Canada
2546S-10-2006