Ideal Segregated Funds

Product name

Ideal Segregated Funds

Description

For contracts sold up to May 13, 2016 (Back-end load and No-load options) and for contracts sold up to July 15, 2013 (No-load with reset and Platinum No-load options).

Product type

Segregated Fund Contract

Original Company

Standard Life

Product snapshot

Funds available

For more details, visit Price and Performance.

Fund minimum

  • 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

PAC deposits

  • Savings plans1: $50 per frequency
  • Platinum No-load: $1,000 per frequency3

Maximum deposit

Additional premiums to the No-load with reset option equal to or exceeding $250,000 will be invested into the Platinum No-load option and benefit from its reduced MER.

Subsequent deposits

Back-end load option and No-load option

  • Existing contracts opened prior to May 16, 2016
  • Savings plans1: $250 minimum per fund
  • Payout plans2: $1,000 minimum per fund

No-load with reset option

  • Existing contracts opened prior to July 15, 2013
  • Savings plans1: $250 minimum per fund
  • Payout plans2: $1,000 minimum per fund

Platinum No-load option

  • Existing contracts opened prior to July 15, 2013
  • Savings plans1: $5,000 minimum per fund
  • Payout plans2: $5,000 minimum per fund

Withdrawals4

Ad Hoc:

  • $250 per fund
  • Platinum No-load: $5,000 per fund

Scheduled (SWP) for Non-registered Savings Plan only:

  • $100 per frequency ($5,000 minimum balance must be met)
  • Platinum No-load: $5,000 per frequency3

Switches2

  • Savings plans1: $250 per fund
  • Payout plans2: $1,000 per fund
  • Platinum No-load: $5,000 per fund

Note: All transfers and switches will be processed in accordance to our administrative guidelines and may impact your guarantees.


Features

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.

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, No‑load, No‑load with reset and Platinum No‑load5 options

Other features

Resets:

  • No reset for Back-end load and No-load options.
  • No-load with reset and Platinum No-load options include up to 2 client-initiated resets of the Net Premium6 per calendar year until age 70.

Guarantees

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.
    • Dollar‑for‑dollar reductions on scheduled retirement income payment.

Maturity guarantee

Savings Plans only:

  • Maturity Benefit Guarantee is equal to the greater of Contract Value or 75% of Net Premium7 on the Annuity Commencement Date.

Payout guarantee

Payout Plans only:

  • Payout Benefit Guarantee equal to at least 75% of Net Premium6 paid as income payments over the lifetime of the Contract.
  • Contract must be in force at least 10 years from 1st premium payment or last reset date, if applicable.
  • Dollar‑for‑dollar reductions on scheduled retirement income payment.

Income guarantee

N/A


Sales Charge Options %

 

No-load with reset option (chargeback)

Back‑end load option

Up to 1 year

3%

6%

1‑2 years

2%

5%

2‑3 years

1%

4%

3‑4 years

0%

3%

4‑5 years

0%

2%

5 years or more

0%

0%

Notes:

  • 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.

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 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.

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.