Participating Whole Life Insurance
4789-00A-FEB16
PRODUCT GUIDE
ASSUMPTION LIFE
PARPLUS
This document is a summary of the various features of Assumption Life's products.
It is neither a contract nor an insurance offer and does not confer any rights.
In the event of conflict or ambiguity, the contract will prevail.
Participating Whole Life Insurance
Target market
ParPlus is a permanent and participating life insurance product designed for people who
want insurance coverage for life. Whether for young parents, entrepreneurs or people
seeking to protect the value of their estate or to create an inheritance, ParPlus can meet
many insurance needs.
ParPlus is ideal for people who are seeking a combination of guaranteed values and
flexibility allowing for an increase in life insurance or access to cash, depending on the
dividend option chosen.


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Permanent life insurance with guaranteed basic insurance amount payable at death.
Participating policy (dividends are payable until the attained age 100 or the equivalent
attained age 100 in the case of a joint policy)
Simplified issue available for ages 18-65 with life insurance coverage of $5,000 to
$249,999. All answers to medical and lifestyle questions must be in the negative.
Full underwriting for ages 66 to 75.
Guaranteed level premiums for the basic insurance amount, that is, premiums remain
the same for the premium payment period.
Smoker and non-smoker rates.
Available as a policy only.
Available as an individual policy or a joint first-to-die policy on two insureds.


18 to 70 years of age (If payable for 20 years)
18 to 75 years of age (If payable for life)



Features
Issue ages
For joint policies, the equivalent age and the age of both insureds must be between 18 and 70 or
between 18 to 75, depending on the premium payment period chosen.
Premium payment
period

20-Year-Pay

Life Pay (If individual policy, payable to attained age 100. If joint policy, payable to the equivalent
Minimum sum
insured

$5,000
Maximum sum
insured

$4,000,000
Banding
$5,000 to $24,999
$25,000 to $99,999
Annual fees

$80 per policy
Guaranteed cash
values

Available as of the sixth policy anniversary
attained age 100)
$100,000 to $249,999
Over $250,000 (Full underwriting for sum insured of $250,000 and up)
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Page 2 of 23
Assumption Mutual Life Insurance Company
P.O. Box 160/770 Main St., Moncton, NB E1C 8L1
Tel.: 506-853-6040/1-800-455-7337
The following riders may be added to the policy.
 FlexTerm (see product guide for features)
 Maximum of 5 FlexTerm riders per policy
 Maximum of 2 FlexTerm coverages per insured

Youth Plus (see product guide for features)
 Maximum of 5 Youth Plus riders per policy
 Maximum of one Youth Plus coverage per insured child
The following additional benefits may be added to the policy as riders and must be issued
at the same time as the policy.
Riders
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Critical Illness Rider
Child Insurance Benefit (CIB)
Disability Income (based on loans)
Disability Income (based on employment income)
Waiver of Premium Upon Disability (WP)
Waiver of Premium Upon Death (WPD)
Accidental Fracture Plus (FRAC)
Accidental Death and Dismemberment (AD&D) – on individual policy only.
The following dividend options are available. You may change your selected dividend option by
written notice to Assumption Life before any policy anniversary (limits & exclusions may apply):
Dividend options
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Paid in cash
Reduced premium
Accumulation
Paid-up additions (PUA)*
Enhanced – 15-year guarantee**
Enhanced – guarantee to attained age 100**
*If Paid-up additions option is not selected at time of purchase, medical underwriting will be
necessary to choose this option later. (Only an Enhanced option can be changed to PUA
without medical underwriting).
**Enhanced option is only available at time of purchase. The enhanced insurance initial sum
insured is guaranteed for the first 15 policy years or until the attained age 100 or the
equivalent attained age 100 in the case of a joint policy, based on the guarantee chosen
under the Enhanced option. If selected, this option can be changed to any of the other four
dividend options at a later date.
Joint policy

Available as a joint first-to-die policy. (equivalent age)
Application

Electronic application only. No paper application.
For additional information concerning the product and its limitations and exclusions, please refer to the
contract by going to www.assumption.ca and clicking on the “Producer’s Corner” link (top left of the page). Log in with
your user name and password, then click on “Individual Insurance”. You will find the sample contracts under the
“Helpful Links” section (bottom of page).
4789-00A-FEB16
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Assumption Mutual Life Insurance Company
P.O. Box 160/770 Main St., Moncton, NB E1C 8L1
Tel.: 506-853-6040/1-800-455-7337
PARPLUS JUNIOR
Participating Whole Life Insurance
Target market
ParPlus Junior is a permanent and participating life insurance product designed for
children. With this product, the child is insured for life, no matter the evolution of his or her
health status. ParPlus Junior also offers flexibility allowing for an increase in life insurance
or access to cash, depending on the dividend option chosen.
Thanks to its guaranteed values and its flexibility, ParPlus Junior can become a key
element in the insured child’s financial security.
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Permanent life insurance with guaranteed basic insurance amount payable at death.
Participating policy (dividends are payable until the attained age 100).
Simplified issue with life insurance coverage of $249,999 or less (all answers to
medical and lifestyle questions must be in the negative).
Guaranteed level premiums for basic insurance amount, that is, the premiums remain
the same for the premium payment period.
Available as a policy only.
Available as an individual policy.
Issue ages

0 (15 days) to 17 years of age
Premium payment
period
Minimum sum
insured
Maximum sum
insured

Payable for 20 years

$5,000

$4,000,000


$5,000 to $99,999
$100,000 or more
Features

Banding
Full underwriting for sum insured of $250,000 and up
Annual fees

$80 per policy
Guaranteed cash
values

Available as of the sixth policy anniversary
The following riders may be added to the policy.
 FlexTerm (see product guide for features)
 Maximum of 5 FlexTerm riders per policy
 Maximum of 2 FlexTerm coverages per insured
Riders
 Youth Plus (see product guide for features)
 Maximum of 5 Youth Plus riders per policy
 Maximum of one Youth Plus coverage per insured child
The following additional benefits can be added as a rider to the ParPlus policy and must be
issued at the same time as the policy.


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Waiver of Premium Upon Death (WPD) on owner and payer
Waiver of Premium Upon Disability (WP) on owner and payer
Accidental Death and Dismemberment (AD&D)
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Assumption Mutual Life Insurance Company
P.O. Box 160/770 Main St., Moncton, NB E1C 8L1
Tel.: 506-853-6040/1-800-455-7337
The following dividend options are available. The dividend option can be changed by written notice to
Assumption Life before any policy anniversary (limits & exclusions may apply):
Dividend options






Paid in cash
Reduced premium
Accumulation
Paid-up additions (PUA)*
Enhanced – 15-year guarantee**
Enhanced – guarantee to attained age 100**
*If Paid-up additions option is not selected at purchase, medical underwriting will be necessary
to choose this option later. (Only an Enhanced option can be changed to PUA without medical
underwriting).
**Enhanced option is only available at time of purchase. The enhanced insurance initial sum
insured is guaranteed for the first 15 policy years or until the attained age 100, based on
the guarantee chosen under the Enhanced option. If selected, this option can be changed to
any of the other four dividend options at a later date.
Application

Electronic submissions only. No paper applications.
For additional information concerning the product and its limitations and exclusions, please refer to the
contract by going to www.assumption.ca and clicking on the “Producer’s Corner” link (top left of the page). Log in with
your user name and password, then click on “Individual Insurance”. You will find the sample contracts under the
“Helpful Links” section (bottom of page).
4789-00A-FEB16
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Assumption Mutual Life Insurance Company
P.O. Box 160/770 Main St., Moncton, NB E1C 8L1
Tel.: 506-853-6040/1-800-455-7337
Riders on ParPlus and ParPlus Junior
Waiver of Premium Upon Disability (WP)
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Features
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Available with the policy and must be issued at the same time
Can be issued on a maximum of two people per contract: the insured under the life
insurance (18 years of age and older), the owner and the payer.
The contract’s premiums will be waived if the insured becomes totally disabled (see
th
definition of total disability) before the rider anniversary nearest the 60 birthday of the
insured under the WP.
A waiting period of four consecutive months applies for total disability. If the insured
under this benefit remains totally disabled according to the terms of the contract after
this waiting period, Assumption Life will reimburse any premiums paid during this
waiting period and will waive future premiums as long as total disability persists.
Premiums can be waived for the duration of the contract’s premium payment period.
The contract’s premiums will be waived based on the monthly payment method,
regardless of the method of premium payment chosen.
This rider automatically terminates on the first of the following:
 The termination date of the policy.
th
 On the rider anniversary nearest the 60 birthday of the insured under the
WP.
Subject to limitations and exclusions (please refer to contract for more information).
Total disability or totally disabled means a condition resulting from an illness, an
injury or a nervous disorder that requires the continuous care of a physician and that
prevents the insured from performing his or her regular duties in regard to any of the
following:
During the first 24 months of total disability:

Definition of total
disability


Any occupation in which he or she was engaged immediately before the date
he or she became disabled.
His or her main occupation.
Any occupation at which the insured worked at least 20 hours per week for at
least 8 weeks during the 12 months immediately preceding his or her total
disability.
th
From the 25 month of total disability

Issue ages

Any occupation for which he or she is, or may reasonably become, qualified
through his or her education, training or experience. The availability of the
occupation is not considered.
18 to 55 years of age
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Page 6 of 23
Assumption Mutual Life Insurance Company
P.O. Box 160/770 Main St., Moncton, NB E1C 8L1
Tel.: 506-853-6040/1-800-455-7337
Riders on ParPlus and ParPlus Junior
Waiver of Premium Upon Death (WPD)
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

Available with the policy and must be issued at the same time.
Can be issued for a maximum of two people per contract: the owner, the payer or an
insured under the life insurance policy or riders.
The contract’s premiums will be waived if the insured under the WPD dies.
The WPD rider and the waiver of premiums under the contract following death of the
insured under the WPD will terminate on the earliest of the following:
(a) The last date for which premiums are payable under the contract;
(b) The expiry date of the WPD rider, that is, the first of the following:
th
i. The rider anniversary nearest the 65 birthday of the insured under the
WPD rider.
th
ii. The 20 anniversary of the WPD rider.
When the contract is still in force at the end of its waiver of premium period and there
is an insurance benefit under the contract for which a premium remains payable, the
owner must pay the premium when due to keep that benefit in force.
Subject to limitations and exclusions (refer to contract for more information).

18 to 55 years of age
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
Features
Issue ages
Accidental Death and Dismemberment (AD&D)
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Available with the policy and must be issued at the same time.
This benefit provides for the payment of its sum insured if the insured dies
accidentally. Death must occur within 90 days of the accident.
This benefit also pays 100% of its sum insured for the accidental loss of: both hands,
both feet, sight in both eyes, one hand and one foot, one hand and the sight in one
eye, one foot and the sight in one eye.
50% of the benefit’s sum insured is paid for the accidental loss of: one hand, one
foot or sight in one eye.
The maximum amount payable is one time the sum insured under AD&D.
th
This benefit terminates on the anniversary nearest the 65 birthday of the insured.
Subject to limitations, exclusions and reductions (refer to rider for more information).
Issue ages

15 days (age 0) to 55 years of age.
Premium payment
period
Premiums are payable on the AD&D rider until the first of the following:
 The premium payment period of the product to which the AD&D rider is attached
th
 The AD&D rider anniversary nearest the 65 birthday of the insured.
Minimum sum
insured

$1,000

$300,000
− without exceeding the coverage to which it is added.
− including any other policy having this benefit in force with Assumption Life.

Features

Maximum sum
insured
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Assumption Mutual Life Insurance Company
P.O. Box 160/770 Main St., Moncton, NB E1C 8L1
Tel.: 506-853-6040/1-800-455-7337
Rider on ParPlus only
Critical Illness Rider

Available with the policy and must be issued at the same time

Term critical illness insurance with level sum insured.
16 covered critical illnesses.
 Same questionnaire as for the life insurance coverage to which it is attached.
 Simplified issue (all answers to medical and lifestyle questions must be in the negative).
 Guaranteed level premiums for the term selected.
 Available with smoker and non-smoker rates.
 Renewable until the rider anniversary nearest to the insured’s 75th birthday.
 If the life insurance coverage terminates before its anniversary nearest to the insured’s
75th birthday, the critical illness rider will also terminate.

Features
Covered critical
illnesses
1.
2.
3.
4.
5.
6.
7.
8.
Accidental loss of limbs
Aortic surgery
Aplastic anemia
Bacterial meningitis
Blindness
Cancer (life-threatening)
Coma
Coronary artery bypass surgery
9.
10.
11.
12.
13.
14.
15.
16.
Heart attack
Heart valve replacement or repair
Kidney failure
Major organ failure on waiting list
Major organ transplant
Paralysis due to an accident
Severe burns
Stroke (cerebrovascular accident)
No critical illness insurance benefit is payable if the insured suffers from a covered critical
illness at any time during the 12-month period following the later of:
i)
ii)
Exclusion for
pre-existing condition
The effective date of this rider; or
The date of its most recent reinstatement, if applicable;
and the diagnosed critical illness results directly or indirectly from an illness or condition for
which, during the 12-month period prior to the later of the two dates above, the insured:
(a) Showed signs or symptoms, or underwent tests or investigations; or
(b) Received a diagnosis or has been treated, hospitalized or under the care of a
physician; or
(c) Was recommended to seek treatment or to consult a physician; or
(d) Was prescribed or took medication.
Terms



15 years
20 years
25 years
Issue ages
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T-15
T-20
T-25
18 to 60 years of age
18 to 55 years of age
18 to 50 years of age
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Assumption Mutual Life Insurance Company
P.O. Box 160/770 Main St., Moncton, NB E1C 8L1
Tel.: 506-853-6040/1-800-455-7337
Rider on ParPlus only
Critical Illness Rider (continued)
Minimum sum insured
$10,000
$25,000, without exceeding 50% of the initial life insurance coverage.
Maximum sum insured
Possible combinations
The sum of all Critical Illness riders in force with Assumption Life for a single insured cannot
exceed $25,000.
For the ParPlus product, the owner may choose among the three available terms (15, 20 or
25 years) for the Critical Illness rider.
The Critical Illness rider terminates on the first of the following:
(a) The death of the insured.
(b) The date a critical illness insurance benefit is paid under the Critical Illness rider.
Termination of the
Critical Illness Rider
(c) The date Assumption Life receives written notice from the owner requesting
termination of the Critical Illness rider or the date of termination requested in the
notice, should this date be later.
(d) The date the life insurance policy or rider to which the Critical Illness rider is
attached terminates, for whatever reason.
(e) The date the life insurance policy or rider to which the Critical Illness rider is
attached is continued as reduced paid-up insurance.
(f) The rider anniversary nearest the insured’s 75th birthday, regardless of the last
renewal date.
For additional information concerning the product and its limitations and exclusions, please refer to the contract
by going to www.assumption.ca and clicking on the “Producer’s Corner” link (top left of the page). Log in with your user
name and password, then click on “Individual Insurance”. You will find the sample contracts under the “Helpful Links”
section (bottom of page).
4789-00A-FEB16
Page 9 of 23
Assumption Mutual Life Insurance Company
P.O. Box 160/770 Main St., Moncton, NB E1C 8L1
Tel.: 506-853-6040/1-800-455-7337
Rider on ParPlus only
Child’s Insurance Benefit (CIB)

Available with the policy and must be issued at the same time.

This term life insurance rider covers each child of the insured who is single and
dependent upon the insured for support and:

Who is a natural or adopted child and is at least 15 days but less than 18 years old
on the date of issue of the rider and is specifically designated in the insurance
application; or

Who is a natural child born after the effective date of the rider and is at least
15 days or more; or

Who is a child adopted after the effective date of the rider and is at least 15 days
but less than 18 years old on the date of adoption.
Expiry date
Coverage on each child terminates upon the first of the following:
st

On the child’s 21 birthday or, if he or she is registered as a full-time student in a
th
recognized learning institution, on his or her 25 birthday.
th

On the rider anniversary nearest the insured’s (parent) 65 birthday.
Features


Issue ages
Premium payment
period
Sum insured available
Conversion
18 to 60 years of age of the Insured (parent)
Premiums are payable until the first of the following:
 The premium payment period of the product to which the CIB rider is attached
(minimum 20 years)
th
 The rider anniversary nearest the 65 birthday of the insured (parent) under the
CIB rider.

$10,000 or $20,000 (per each insured child).
The $20,000 maximum includes all other CIB riders in force with Assumption Life.

On the expiry date set for this rider, the term insurance on each insured child may
be converted to an individual permanent life insurance offered by Assumption Life at
the time of this conversion right without proof of insurability. The smoker premium
class and regular risk will apply.

The insurance company must receive an application for insurance along with
payment of the first premium during the 90-day period preceding the expiry date of
the term insurance. The permanent life insurance becomes effective on such expiry
date.
The permanent life insurance on each insured child cannot exceed five times the
sum insured under this rider (maximum of $100,000 including the conversion of any
other CIB rider in force with Assumption Life).

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Page 10 of 23
Assumption Mutual Life Insurance Company
P.O. Box 160/770 Main St., Moncton, NB E1C 8L1
Tel.: 506-853-6040/1-800-455-7337
Rider on ParPlus only
Disability Income (based on loans)
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Features
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

Available with ParPlus policy and must be issued at the same time.
Provides for a monthly disability income benefit payment if the insured becomes totally
th
disabled before the rider anniversary nearest the insured's 60 birthday (see definition of
total disability).
The total number of monthly payments is 24 for the same cause of total disability.
The total number of monthly payments is 48 for periods of total disability resulting from
different total disability causes.
Simplified issue for a disability income sum insured of $1,500 or less per month (all
answers to medical and lifestyle questions must be in the negative).
Renewable at the same time as the ParPlus policy to which it is attached until the
th
disability income rider anniversary nearest the insured’s 60 birthday without, however,
exceeding the maximum expiry date of all loans specified in the insurance application.
Guaranteed level premiums (do not change at renewal).
Available with smoker and non-smoker rates.
The waiting period to receive a first disability benefit payment is 90 consecutive days with
st
retroactive payment to the 61 day of total disability.
Benefit payable to the insured.
Contains limitations and exclusions (please refer to contract for more information).
Contains an exclusion for pre-existing conditions if total disability occurs within six months
of the effective date of insurance and the cause of this disability is due to any pathological
condition, illness or disease, whether diagnosed or not, that the insured suffered during
the six months immediately preceding the effective date of insurance.
Total disability or totally disabled means a condition resulting from an illness, an injury or a
nervous disorder that requires the continuous care of a physician and that prevents the
insured from performing his or her regular duties in regard to any of the following:
(a) Any occupation in which he or she was engaged immediately before the date he or she
became disabled.
Definition of total
disability
(b) His or her main occupation.
(c) Any occupation for which the insured worked at least 20 hours per week for at least
8 weeks during the 12 months immediately preceding his or her total disability.
To be considered totally disabled, the insured must not engage in any gainful occupation,
employment or activity allowing him or her to draw profits, gains, salaries or any other form of
remuneration while he or she is totally disabled.
Issue ages
18 to 55 years of age
Minimum sum insured
$300 per month
Maximum sum insured
1% of the sum insured of the ParPlus policy, without exceeding $3,000 per month, but not
less than $300 per month.
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Page 11 of 23
Assumption Mutual Life Insurance Company
P.O. Box 160/770 Main St., Moncton, NB E1C 8L1
Tel.: 506-853-6040/1-800-455-7337
Rider on ParPlus only
Disability Income (based on loans) (continued)
Entitlement to
disability income
benefit
When submitting a claim, in addition to the proof of total disability, the insured must provide
formal proof of the existence of any loan and of any written financial commitment related to
any deferred real estate mortgage loan, as applicable, upon which we have set the monthly
sum insured of the disability income rider on the date the ParPlus application was signed and
proof of the existence of a replacement loan, if applicable, before the end of the loan period
specified in the ParPlus application.
No benefit is payable if the same loan is covered by another insurer.
Additional conditions apply to maintain the disability income benefits. Please refer to the
contract for additional information.




Loans eligible for
disability income
benefit





Real estate mortgage loans in effect or deferred at the time the ParPlus application is
signed. The expected start date of the deferred loan is set at no later than six months after
the application is signed.
Personal loans in effect at the time the ParPlus application is signed, whether for the
lease, purchase or purchase/buyback of any goods.
Personal lines of credit with a minimum credit limit of $20,000 in effect at the time the
ParPlus application is signed.
All loans must have been signed in a Canadian province by the insured individually or
jointly at a financial institution.
Withdrawals from a registered retirement savings plan (RRSP) made through the Canada
Revenue Agency’s Home Buyer’s Plan (HBP) before the date the ParPlus application is
signed.
The initial loan amortization period (initial duration of the loan) must be for a minimum of
15 years.
All loans, except lines of credit, must have a remaining period of at least five years on the
date the ParPlus application is signed.
Any commercial loan, any commercial line of credit and any credit card balance are not
eligible for the disability income benefit.
Replacement loan means a real estate mortgage loan or line of credit in force at the latest
six months following the complete payment, before the end of the remaining period
indicated in the application, of a real estate mortgage loan or line of credit.
4789-00A-FEB16
Page 12 of 23
Assumption Mutual Life Insurance Company
P.O. Box 160/770 Main St., Moncton, NB E1C 8L1
Tel.: 506-853-6040/1-800-455-7337
Rider on ParPlus only
Disability Income (based on loans) (continued)
The maximum monthly disability income benefit payment is equal to the least of:
(a) The sum insured under the disability income rider at the date of total disability.
(b) 1% of the sum insured under the disabled insured’s ParPlus policy to which the
disability income rider is attached, but not less than $300.
(c) The sum of (1) and (2) as defined below:
(1) The amount of regular monthly payments of any loan specified on the ParPlus
application or any replacement loan, excluding any line of credit, due and
payable to any financial institution to cover the principal and interest only for
any loan in effect on the date of total disability, excluding any line of credit.
(2) The average monthly payments, including interest, made on the line of credit
during the six months preceding the onset of total disability, or, if the line of
credit was established less than six months before the date of total disability,
the average monthly payments, including interest, for the period between the
date the line of credit was established and the date of total disability.
Maximum monthly
benefit in case of total
disability
Penalties, arrears, interest bonuses, property tax holdbacks, insurance premiums and
any other amounts added to the regular loan payment are excluded from the
calculation of the monthly payments in (1) and (2) above
.
Disability income benefit payments terminate on the first of the following:
 The date on which the insured ceases to be totally disabled.
 The date of death of the disabled insured.
 The date the disabled insured’s ParPlus policy to which the disability income rider is
attached terminates, for whatever reason.
th
 The date of the 24 monthly disability benefit payment for the same cause of total disability
except for the following total disability causes:

Termination of
disability income
benefit

Soft tissue injury or degenerative disc disease: the disability income benefit terminates on
the date of the first disability benefit payment.
Psychological or nervous disorder: the disability benefit terminates on the date of the sixth
monthly disability benefit payment.

th
The date of the 48 monthly disability income benefit payment for periods of total disability
resulting from different total disability causes.
 The date all loans on which the monthly sum insured for the disability income rider was
based on the date the ParPlus application was signed or any existing replacement loan at
the date of the total disability are completely reimbursed.
 The date on which the insured is released from his/her obligations under the loan or any
existing replacement loan at the date of total disability.
 The date on which the insured refuses or neglects to provide the required proofs to
Assumption Life.
The date on which the insured refuses to submit to medical examinations or treatments
prescribed by a doctor without reasonable justification.
4789-00A-FEB16
Page 13 of 23
Assumption Mutual Life Insurance Company
P.O. Box 160/770 Main St., Moncton, NB E1C 8L1
Tel.: 506-853-6040/1-800-455-7337
Rider on ParPlus only
Disability Income (based on loans) (continued)
Termination of
disability income rider
The disability income rider terminates on the first of the following:
 The date of death of the insured.
 The date the insured’s ParPlus policy to which the disability income rider is attached
terminates, for whatever reason.
 The date Assumption Life receives written notice to terminate the disability income rider
or the termination date specified in the notice, if later.
 The date Assumption Life has made 48 monthly disability benefit payments.
 The date all loans on which the monthly sum insured of the disability income rider was
based on the date the ParPlus application was signed or any replacement loan are
completely reimbursed, subject to any transfer, assignment or refinancing of loan.
 The date on which the insured is released from his obligations under all loans.
th
 The rider anniversary nearest the insured's 60 birthday.
 The maximum expiry date of all loans specified in the insurance application.
Please note that if the insured starts receiving disability benefits at age 59, he or she could receive a
maximum of 24 monthly payments until age 61, as long as the ParPlus policy to which the disability
income rider is attached remains in force and as long as he or she is entitled to receive disability benefit
payments according to the terms of the contract.
4789-00A-FEB16
Page 14 of 23
Assumption Mutual Life Insurance Company
P.O. Box 160/770 Main St., Moncton, NB E1C 8L1
Tel.: 506-853-6040/1-800-455-7337
Rider on ParPlus only
Disability Income (based on loans) (continued)
The disability income rider (based on loans) may be changed to a disability income rider
(based on employment income) if:
 All loans are paid in full before the expiry date calculated for the end of the disability
income rider, and
 No claim has been submitted.
Change to disability
income rider (based on
employment income)
In order to be eligible for the disability income rider (based on employment income), the
insured must:
 Submit his request within 60 days following full payment of all loans.
 Complete a declaration of insurability that includes smoking status and medical
requirements.
 Financially justify the sum insured of the disability income rider (The maximum monthly sum
insured for disability income from all sources, excluding the credit insurance disability benefits, may
nevertheless not exceed 75% of the insured’s average monthly employment income during the 12
months immediately preceding the date the request is made to change to a disability income rider –
based on employment income) without, however, exceeding the sum insured of the disability
income rider (based on loans) at the date all loans are paid in full.
Joint policy:
 If the disability income rider (based on loans) is issued on two insureds and that only one
insured requests the change, the disability income (based on loans) on the other insured
will terminate.
The sum insured may differ for each insured on the disability income (based on employment
income).

Joint policy
The disability income rider is available for one or the other of the insureds or for both. The
sum insured of the disability income rider must be the same for both insureds.
 If both joint insureds have the disability income rider and are totally disabled, the monthly
disability income payments will be made for one insured only, and not be doubled.
 Individual premiums are used for each insured.
For additional information concerning the product and its limitations and exclusions, please refer to the contract by
going to www.assumption.ca and clicking on the “Producer’s Corner” link (top left of the page). Log in with your user name
and password, then click on “Individual Insurance”. You will find the sample contracts under the “Helpful Links” section
(bottom of page).
4789-00A-FEB16
Page 15 of 23
Assumption Mutual Life Insurance Company
P.O. Box 160/770 Main St., Moncton, NB E1C 8L1
Tel.: 506-853-6040/1-800-455-7337
Rider on ParPlus only
Disability Income (based on employment income)

Available with ParPlus insurance policy and must be issued at the same time.
 Provides for a monthly disability benefit payment if the insured becomes totally disabled
th
before the rider anniversary nearest the insured's 60 birthday (see definition of total
disability).
 The total number of monthly payments is 24 for the same cause of total disability.
 The total number of monthly payments is 48 for periods of total disability resulting from
different total disability causes.
 Simplified issue for a disability income sum insured of $1,500 or less per month (all
answers to medical and lifestyle questions must be in the negative).
 Renewable at the same time as the ParPlus policy to which it is attached until the
th
disability income rider anniversary nearest the insured’s 60 birthday.
 Guaranteed level premiums (do not change at renewal).
 Available with smoker and non-smoker rates.
 The waiting period to receive a first disability benefit payment is 90 consecutive days,
st
with retroactive payment to the 61 day of total disability.
 Benefit payable to the insured.
 Contains limitations and exclusions (please refer to contract for more information).
 Contains an exclusion for pre-existing conditions if total disability occurs within six
months of the effective date of insurance and the cause of this disability is due to any
pathological condition, illness or disease, whether diagnosed or not, that the insured has
suffered during the six months immediately preceding the effective date of insurance.
Features
Definition of total
disability
Total disability or totally disabled means a condition resulting from an illness, an injury or a
nervous disorder that requires the continuous care of a physician and that prevents the
insured from performing his or her regular duties in regard to any of the following:
(a) Any occupation in which he or she was engaged immediately before the date he or she
became disabled.
(b) His or her main occupation.
(c) Any occupation for which the insured worked at least 20 hours per week for at least
8 weeks during the 12 months immediately preceding his or her total disability.
To be considered totally disabled, the insured must not engage in any gainful occupation,
employment or activity allowing him or her to draw profits, gains, salaries or any other form of
remuneration while he or she is totally disabled.
Issue ages
18 to 55 years of age
Minimum sum insured
$300 per month
1% of the sum insured of the ParPlus policy, without exceeding $3,000 per month, but not
less than $300 per month.
Maximum sum insured
The maximum monthly sum insured for disability income from all sources, excluding credit
insurance disability income, may nevertheless not exceed 75% of the insured's average
monthly employment income during the 12 months immediately preceding the date the
disability income rider application was signed.
4789-00A-FEB16
Page 16 of 23
Assumption Mutual Life Insurance Company
P.O. Box 160/770 Main St., Moncton, NB E1C 8L1
Tel.: 506-853-6040/1-800-455-7337
Rider on ParPlus only
Disability Income (based on employment income) (continued)
Maximum monthly
payments in case of
total disability
Termination of
disability income
benefit
The maximum monthly disability benefit payment is equal to the least of:
 The sum insured under the disability income rider at the date of total disability.
 1% of the sum insured of the disabled insured’s ParPlus policy to which the disability
income rider is attached, but not less than $300.
 An amount which, combined with other monthly disability benefit payments from all other
sources (excluding credit insurance disability benefits) during the total disability period,
does not exceed 75% of the insured’s average monthly employment income during the 12
months immediately preceding the onset of total disability.
Disability income benefit payments terminate on the first of the following:
 The date on which the insured ceases to be totally disabled.
 The date of death of the disabled insured.
 The date the disabled insured’s ParPlus policy to which the disability income rider is
attached terminates, for whatever reason.
th
 The date of the 24 monthly disability benefit payment for the same cause of total disability
except for the following total disability causes:


Soft tissue injury or degenerative disc disease: the disability benefit terminates on the
date of the first disability benefit payment.
Psychological or nervous disorder: the disability benefit terminates on the date of the
sixth monthly disability benefit payment.

th
The date of the 48 monthly disability benefit payment for periods of total disability
resulting from different total disability causes.
 The date on which the insured refuses or neglects to provide the required proofs to
Assumption Life.
 The date on which the insured refuses to submit to examination or treatment prescribed by
a doctor without reasonable justification.
Termination of the
disability income rider
The disability income rider terminates on the first of the following:
 The date of death of the insured.
 The termination date of the insured’s ParPlus policy to which the disability income rider is
attached.
 The date Assumption Life receives written notice to terminate the disability income rider or
the termination date specified in the notice, if later.
 The date Assumption Life has made 48 monthly disability benefit payments.
th
 The rider anniversary nearest the insured's 60 birthday.
 The expiry date of this rider.
Please note that if the insured begins receiving disability income benefits at age 59, he or she could
receive a maximum of 24 monthly payments until age 61, as long as the ParPlus policy to which the
disability income rider is attached remains in force and as long as he or she is entitled to receive
disability income benefits according to the terms of the contract.

Joint policy
The disability income rider is available for one or the other of the insureds or for both.
The sum insured of the disability income rider may differ for each insured.
 If both insureds have the disability income rider and are totally disabled, the monthly
disability income benefit payments will be made to each insured.
 Individual premiums are used for each insured.
For additional information concerning the product and its limitations and exclusions, please refer to the contract by
going to www.assumption.ca and clicking on the “Producer’s Corner” link (top left of the page). Log in with your user name
and password, then click on “Individual Insurance”. You will find the sample contracts under the “Helpful Links” section
(bottom of page).
4789-00A-FEB16
Page 17 of 23
Assumption Mutual Life Insurance Company
P.O. Box 160/770 Main St., Moncton, NB E1C 8L1
Tel.: 506-853-6040/1-800-455-7337
Rider on ParPlus only
Accidental Fracture Plus




Eligible individuals for
this rider
The insured (insured individual under the Accidental Fracture Plus rider)
The insured and spouse*
The insured and children**
The insured, spouse* and children**
*Spouse means a person:
a) to whom the insured is married; or
b) with whom the insured has been cohabiting in a conjugal relationship for at least
one year on a continuous basis without being separated; or
c) with whom the insured has been cohabiting in a conjugal relationship for less than one year,
without being separated, where there is a child born of whom they are the natural parents.
The insured and spouse can be of the same sex or opposite sex.
** Child means each child of the insured who is single and dependent upon the insured for support
and:
a) who is a natural or adopted child and is at least 15 days but less than 18 years old, or less than
25 years old if he or she is registered as a full-time student in a recognized teaching institution;
or
b) who is a natural child born after the effective date of this rider and is at least 15 days or more;
or
c) who is a child adopted after the effective date of this rider and is at least 15 days but less than
18 years old, or less than 25 years old if he or she is registered as a full-time student in a
recognized teaching institution, on the date of adoption.
Issue Ages
18 to 69 (at the insured’s nearest birthday)
Number of Units
The maximum number of units under all the Accidental Fracture Plus riders issued by us
must not exceed two (2) units per person insured. The insurance amounts per unit are
described below.
The insurance amounts below are for one unit of protection.
Type of accidental fracture: skull (excluding facial bones), spine, pelvic girdle (including
hip), sacrum (excluding the coccyx), femur:
 Insurance amount per unit for the insured and spouse: $5,000
 Insurance amount per unit for the children: $2,500
Type of accidental fracture: sternum, manubrium, larynx, trachea, scapula, humerus,
patella, tibia, fibula:
 Insurance amount per unit for the insured and spouse: $1,500
 Insurance amount per unit for the children: $750
Insurance Coverage:
Accidental Fracture
Type of accidental fracture: facial bones (excluding the nose), radius, ulna:
 Insurance amount per unit for the insured and spouse: $1,000
 Insurance amount per unit for the children: $500
Type of accidental fracture: rib, clavicle, nose, tarsus, carpus, any other bone that is not
listed above:
 Insurance amount per unit for the insured and spouse: $500
 Insurance amount per unit for the children: $250
For the insured and his spouse, when the actual age of the person insured is 70 or more
but less than 80 at the date of the accident, the amount payable per unit is reduced by half
the amount indicated above.
For an amount to be payable for an accidental fracture, the fracture must have been
diagnosed within 30 days of the accident.
4789-00A-FEB16
Page 18 of 23
Assumption Mutual Life Insurance Company
P.O. Box 160/770 Main St., Moncton, NB E1C 8L1
Tel.: 506-853-6040/1-800-455-7337
Rider on ParPlus only
Accidental Fracture Plus (continued)
The insurance amounts below are for one unit of protection.
Accidental death
 Insurance amount per unit for the insured and spouse: $5,000
 Insurance amount per unit for the children: $2,500
Loss of both hands, both feet or both eyes
 Insurance amount per unit for the insured and spouse: $5,000
 Insurance amount per unit for the children: $2,500
Loss of one hand and one foot
 Insurance amount per unit for the insured and spouse: $5,000
 Insurance amount per unit for the children: $2,500
Insurance Coverage:
Accidental Death and
Dismemberment
Loss of one hand or foot, and loss of one eye
 Insurance amount per unit for the insured and spouse: $5,000
 Insurance amount per unit for the children: $2,500
Loss of one hand, one foot or one eye
 Insurance amount per unit for the insured and spouse: $2,500
 Insurance amount per unit for the children: $1,250
Double indemnity – Accidental death in a common carrier
Assumption Life will pay double the amount indicated in the above table, for an accidental
death occurred in a common carrier involved in an accident.
The loss of a hand means complete and permanent severance at or above the wrist; the
loss of a foot means complete and permanent severance at or above the ankle; the loss of
an eye means the total and irreversible loss of sight.
Maximum Amount per
Accident
Only one amount is payable under the Accidental Fracture coverage and the Accidental
Death and Dismemberment coverage per person insured, per accident, and this is the
higher amount payable between the two coverages.
For example, a 40-year-old insured involved in an accident loses both eyes, and suffers a
fracture of the sternum and a clavicle, will receive $5,000, the higher of the insurance
amounts.
The insurance amounts below are for one unit of protection.
Insurance Coverage:
Accidental Total
Disability for Children
Insured
Reimbursement of re-education expenses: Maximum of $3,000
Reimbursement of remedial courses: $20 per hour, maximum of $500
The remedial course expenses remain at $20 per hour even though two units are payable.
However, in this case, the maximum amount is $1,000.
You will find the definitions for re-education expenses and remedial courses in the Application for
Accidental Fracture Plus rider. To consult the application, go to the Assumption Life website at
www.assumption.ca and click on Producer’s Corner (top-left of the page). Then select the link Forms
and Applications.
4789-00A-FEB16
Page 19 of 23
Assumption Mutual Life Insurance Company
P.O. Box 160/770 Main St., Moncton, NB E1C 8L1
Tel.: 506-853-6040/1-800-455-7337
Rider on ParPlus only
Accidental Fracture Plus (continued)
Maximum of three (3) claims per insured individual.
Any request for payment must be submitted within ninety (90) days of the date of the event
that caused the fracture, death, loss or disability of the person insured.
Claims
For the Accidental Total Disability for Children Insured coverage, you must submit a
request for reimbursement within one year (365 days) of the date of the accident.
The premiums are not guaranteed. If the premium rates change, the owner will be given at
least thirty (30) days’ advance notice.
Premiums
Accidental Fracture
The coverage terminates, at the latest, on the dates indicated below:
 For the insured: at the anniversary of the Accidental Fracture Plus rider nearest to
th
his or her 80 birthday;
th
 For the spouse: at the date of his or her 80 birthday;
th
th
 For a child: at the date of his or her 18 birthday or the date of his or her 25
birthday, if he or she is registered as a full-time student in a recognized teaching
institution.
Termination of
Insurance Coverages
Accidental Death and Dismemberment
The coverage terminates at the latest, on the following dates:
th
 For the insured and the spouse: at his or her 70 birthday;
th
th
 For a child: at the date of is or her 18 birthday or the date of his or her 25 birthday
if he or she is registered as a full-time student in a recognized teaching institution.
Accidental Total Disability for Children Insured
th
The coverage ceases automatically, for a child insured, at the date of his or her 18
th
birthday or the date of his or her 25 birthday if he or she is registered as a full-time
student in a recognized teaching institution.
The Accidental Fracture Plus rider is renewed automatically until the anniversary of the
st
rider nearest the insured 71 birthday.
Renewal
In the event of adverse experience, Assumption Life reserves the right to refuse any
renewal of the rider at any time after the anniversary date of the Accidental Fracture Plus
st
rider following the insured’s 71 birthday.
Termination of the
Rider
The Accidental Fracture Plus rider terminates automatically, without notice, on the first of
the following events:
 The expiry, surrender or termination of the policy or rider to which the Accidental
Fracture Plus rider is attached;
 The policy is reduced paid-up or on extended term;
 The date the policy terminates, for whatever reason;
 The date on which we received your written request for termination of the Accidental
Fracture Plus rider;
 Upon the insured’s death;
 Anytime after the anniversary of the Accidental Fracture Plus rider following the
st
71 birthday of the insured if we have advised you of the termination of the rider,
according to the conditions set out in the Accidental Fracture Plus rider;
 The expiry date of the Accidental Fracture Plus.
4789-00A-FEB16
Page 20 of 23
Assumption Mutual Life Insurance Company
P.O. Box 160/770 Main St., Moncton, NB E1C 8L1
Tel.: 506-853-6040/1-800-455-7337
Accidental Fracture Plus (continued)
Application no. 5208-00A-OCT2013
Application
Available on the electronic application or in the Producer’s Corner site under Forms and
Applications.
For additional information concerning the product and its limitations and exclusions, please refer to the application.
To consult the application, go to www.assumption.ca and click on Producer’s Corner (top-left of the page). In the “Individual
Insurance” menu, you will find the application under the link Forms and Applications.
4789-00A-FEB16
Page 21 of 23
Assumption Mutual Life Insurance Company
P.O. Box 160/770 Main St., Moncton, NB E1C 8L1
Tel.: 506-853-6040/1-800-455-7337
Dividend Options
for ParPlus & ParPlus Junior
Paid in cash
Under this option dividends will simply be paid to you at the policy anniversary. Please note
that dividends may be taxable.
Premium reduction
Under this option dividends are applied to pay part/all of the policy premium, thus reducing
your net payable premium. Please note that dividends may be taxable.
Accumulation
Under this option, the dividends are left to accumulate on the policy and will earn interest at
the policy anniversary at the predetermined interest rate set by the Company. Any interest
earned on dividends is taxable; dividends may also be taxable.
Paid-up additions
Under this option, dividends are used to purchase paid-up additions to increase the death
benefit. The amounts of paid-up additions may vary from those illustrated, since they are
purchased with the dividends which are not guaranteed.
If PUA is not selected at time of purchase, medical underwriting will be necessary to choose this option at a later
date.
Under this option, dividends are used to purchase enhanced insurance, which is a
combination of one-year term insurance and paid-up additions. The sum of this combination
is guaranteed not to be less than the enhanced insurance’s initial sum insured during the first
15 policy years if the 15-year guarantee is chosen or until the attained age 100 or the
equivalent age equivalent of 100 in the case of a joint policy if the guarantee to attained age
100 is chosen under the Enhanced option.
Enhanced
- 15-year guarantee
- Guarantee to
attained age 100
During the first policy year, a one-year term insurance equal to the enhanced insurance initial
sum insured is automatically provided. After the first policy year, any dividend credited on the
policy anniversary will be used firstly to purchase as much paid-up additions as possible
while leaving a sufficient amount to purchase the one-year term insurance to attain the
enhanced insurance initial sum insured.
The amount of insurance purchased by dividends in subsequent years is the difference
between the enhanced insurance initial sum insured and the cumulative total paid-up
additions in force.
When the Enhanced option with 15-year guarantee is chosen, should the dividend amount
not suffice to purchase the one-year term insurance required to attain the enhanced
insurance initial sum insured from the 16th policy year on, no paid-up additions will be
purchased and the total dividend will be used to purchase the maximum one-year term
insurance. The total death benefit will then decrease accordingly for the policy year in which
the dividend was insufficient.
The Enhanced option is only available at time of purchase, However, if selected, the Enhanced option can be
changed to any of the other four dividend options at a later date.
Paid in cash
Premium reduction
Accumulation
Paid-up additions
Enhanced
4789-00A-FEB16
Page 22 of 23
Assumption Mutual Life Insurance Company
P.O. Box 160/770 Main St., Moncton, NB E1C 8L1
Tel.: 506-853-6040/1-800-455-7337
PARPLUS & PARPLUS JUNIOR
Unless indicated otherwise herein:

Age means an insured’s age at his or her birthday nearest the date of issue of the
policy or rider with regard to the insured, as applicable.

Attained age means the sum of (i) the age at the date of issue of the policy or rider, as
applicable, and (ii) the number of complete years of insurance from the date of issue of
the policy or rider, as applicable.

Equivalent age means a single age calculated for all insureds under a joint policy, at
its date of issue, as determined according to actuarial calculations based on the age,
sex and smoking status of each insured.

Equivalent attained age means the sum of i) the equivalent age at the date of issue of
the joint policy and ii) the number of complete years of insurance from the date of issue
of the joint policy.

Premiums other than annual are calculated as a percentage of the annual premium:
Please read carefully
(i) Semi-annually
(ii) Quarterly
(iii) Monthly - Preauthorized debits
.53
.27
.09
For additional information concerning the product and its limitations and exclusions, please refer to the contract
by going to www.assumption.ca and clicking on the “Producer’s Corner” link (top left of the page). Log in with your user
name and password, then click on “Individual Insurance”. You will find the sample contracts under the “Helpful Links”
section (bottom of page).
4789-00A-FEB16
Page 23 of 23
Assumption Mutual Life Insurance Company
P.O. Box 160/770 Main St., Moncton, NB E1C 8L1
Tel.: 506-853-6040/1-800-455-7337