Class Plus 2 Information Folder and Contract Provisions - Empire Life

“Lifetime Withdrawal Amount (“LWA”)” shall meanthe maximum amount guaranteed to be available eachcalendar year for withdrawal for the life of the Annuitantor, if applicable, the life of the Joint Life, provided an ExcessWithdrawal does not occur and the age eligibility requirementhas been met;“Maturity Date” shall mean the latest date that a contract may beowned. The Maturity Benefit is payable on the Maturity Date;“notice to us” shall mean notice in writing, by any electronicmeans acceptable to us, or in any other form we may approveand received by us;“notice to you” shall mean written notice sent by regularmail from us to you at your last known address according toour records;“rules” shall mean the administrative rules and proceduresestablished for the contract by us from time to time. We maychange our rules in order to provide better service or to reflectcorporate policy as well as when required by economic andlegislative changes, including revisions to the Income Tax Actand applicable pension legislation. The operation of the contractand your rights as Contract Owner is subject to our rules andprocedures and no prior notice to you is required for a rule orprocedure, or for a change to a rule or procedure to becomeeffective;“similar fund” shall mean a Segregated Fund that hascomparable fundamental investment objectives, is in the sameinvestment fund category (in accordance with fund categoriespublished in a financial publication with broad distribution) andhas the same or a lower management fee than the managementfee of the Fund in question;“Single Tiered Lifetime Withdrawal Amount Option (“SingleTiered LWA Option”)” shall mean an option available wherewithdrawals are guaranteed for the life of the Annuitantprovided an Excess Withdrawal does not occur and the ageeligibility requirement has been met;“Successor Annuitant” shall mean the person who will becomethe Annuitant on the death of the Annuitant;“Valuation Date” shall mean each day that our Head Office isopen for business and a value is available for the underlyingassets of the Funds. Valuation of the Segregated Funds and anysecondary funds occurs at the close of business each ValuationDate. We reserve the right to value a Fund less frequently thaneach business day, subject to a minimum monthly valuationoccurring on the last business day of each month;“we”, “us”, “our”, “the Company” and “Empire Life” shallmean The Empire Life Insurance Company and, for purposes ofa Tax-Free Savings Account, the issuer of the Tax-Free SavingsAccount;“withdrawal fee schedule” shall mean the schedule of feesapplicable to withdrawals. The fees in effect at the time yourcontract is applied for are outlined in Section 8.2 Purchase FeeOptions of the Information Folder;“you”, “your”, and “Contract Owner” shall mean the legalowner of the contract and, for purposes of a Tax-Free SavingsAccount, the holder of the Tax-Free Savings Account.1.2 ContractThe contract is the agreement between you and us. It consists ofthe Application, these Contract Provisions, any endorsementsor amendments issued as part of this contract, and theconfirmation notice issued by us.The following information from the Fund Facts will also form partof the contract effective the date the Fund Facts was prepared andwill remain in effect until such date as it is updated or replaced bya more current Fund Facts:1) the plan name and the Segregated Fund(s) name;2) the Management Expense Ratio (“MER”);3) risk disclosure;4) fees and expenses; and5) rescission rights.The information provided within the Fund Facts is accurateand complies with the Canadian Life and Health InsuranceAssociation Guideline G2 on Individual Variable InsuranceContracts Relating to Segregated Funds and the Autorité desmarchés financiers Guideline on Individual Variable InsuranceContracts Relating to Segregated Funds as of the date it wasprepared. If there is an error on a Fund Fact we will takereasonable measures to correct the error. The error will notentitle you to specific Fund performance.Current Fund Facts are available on request or on our web site atwww.empire.ca.If you have requested that your contract be registered underthe Income Tax Act, the Retirement Savings Plan (“RSP”)Endorsement or the Retirement Income Fund (“RIF”)Endorsement, as applicable, and any applicable locked-inendorsement will form part of your contract. The provisionsof the endorsement(s) will, where applicable, override theContract Provisions.If you have applied for a Tax-Free Savings Account (“TFSA”)and requested that we file an election to register the contract asa TFSA under the Income Tax Act, the TFSA Endorsement willform part of your contract. The provisions of the endorsementwill, where applicable, override the Contract Provisions.We will not be bound by any amendment made to the contractby you or your Advisor unless it is agreed to in writing andsigned by the President, Chief Executive Officer or the Secretary45