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  "documentTitle": "Manulife Financial Corporation (MFC)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson C. Block",
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  "presentationDate": "2018-10-04 00:00:00",
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  "notes": "This page serves as a technical appendix detailing specific contractual clauses and their implications for tax-exempt status and premium funding.",
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      "text": "In other words, the contract expressly states that Manulife will honor the 10-year term account at 4% per annum as long as the policy is in effect.",
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      "text": "Two Pools of Capital: A tax-exempt pool and the “Carrier Fund”",
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      "text": "The contract on its face seems to provide for no limitation on premiums that can be paid into the contract.",
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      "kind": "paragraph",
      "text": "Under the Mosten-Manulife Contract, the tax-exempted status of the first pool was assessed annually on the anniversary of the contract.",
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      "kind": "paragraph",
      "text": "Under the Mosten-Manulife Contract, the contract states, “you may make additional premium payments at any time when this policy is in force.”",
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      "text": "If there was an excess of premiums in the first pool... those excess premiums would be transferred to the Carrier Fund and invested on a taxable basis.",
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      "text": "The policy owner was permitted to select investment programs... One of those investment options was a 10-year term account that had an “annual rate [that] will not be less than 90% of the yield of 10 Year Government of Canada Bonds less 1.75%, subject to a minimum of 4%”",
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      "text": "Unlimited Premium Language",
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      "text": "“annual rate [that] will not be less than 90% of the yield of 10 Year Government of Canada Bonds less 1.75%, subject to a minimum of 4%” — Mosten-Manulife Contract",
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      "text": "Footnotes 11-18 detailing specific contract pages.",
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