Upon completion of the respective Company form declaring that the policy was lost or misplaced and payment of the processing fee, a duplicate policy will be provided.

A lapsed policy can be reinstated as per the terms of the contract.  This reinstatement is subject to (1) the insured providing satisfactory evidence of insurability to the Company, (2) payment of all past due premiums, and (3) payment or reinstatement of any loan on the policy.  If the evidence provided is not accepted or found not to be satisfactory by the Company, all monies paid for this transaction will be refunded to the owner and the policy reinstatement is declined.

When a premium due is not paid by the end of the grace period, the policy will lapse unless there are values on the policy stipulated in the non-forfeiture values.

Once the first premium has been paid, a grace period of 31 days is allowed to pay each subsequent premium.  During this grace period, the policy will be in force.  If the insured dies during the grace period, the unpaid premium will be deducted from the proceeds.

Participating policies accumulate dividends that may be withdrawn at any time unless they have been applied under the policy loans and indebtedness or guaranteed values provisions of the policy. A dividend withdrawal form must be completed for processing.

A loan may be repaid in full at any time while the policy is in force.

If the policy loan plus interest equals or exceeds the cash  value at any time, the policy will terminate and become void 31 days after  Family Guardian mails a notice of lapse to the last known address of the owner or any assignee on record.

Interest will be charged at such rate as Family Guardian determines from time to time.  Interest will be payable in advance on each policy anniversary and is added to the loan amount.

Loans are not granted against term policies as they have no savings features, i.e., cash value or dividends.

Assignees can be removed at any time with the written consent of the assignee.

An assignment transfers ownership to a third party while the assignment is in effect.  A bank or other financial institution may require life insurance as a condition for a loan. Policy assignments can be processed for the sum insured provided the policy is paid current and the signature of the irrevocable beneficiary, if any, is obtained.  Assignment forms are typically provided by the financial institutions and when completed should be submitted to Family Guardian  for processing.