Provider Clerical Medical Product Flexible Bond - bond fee IFA Product This pr...
Flexible Bond - bond fee
This product is available via IFAs.
Minimum age attained at entry
The minimum age attained at entry for the applicant is 18 years. There is no minimum age for the youngest life assured.
Maximum age attained at entry
The maximum age for the relevant life is 90.
The relevant life assured is the younger life for joint life last survivor cases, and the older life for joint life first death cases.
Minimum stand alone single premium (£)
The minimum stand alone single premium is £5,000.
Minimum additional single premium (£)
The minimum additional premium is £1,000.
Initial charge incorporated in the bid/offer spread (%)
There is no initial charge.
Annual man charge (%pa)
The annual management charge ranges between 1% and 1.3% depending on the fund(s) chosen.
Administration fee (%)
An administration fee of 1% per year is taken monthly in advance for the first three years.
Policy fee (£)
There is no policy fee levied.
Early surrender charge levied
Each bond year up to 7.5% can be withdrawn free of encashment charges, if unused this allocation may be rolled over to subsequent years e.g. assuming no withdrawals, ad-hoc encashments or additional investments have been made during the first two years, then the encashment charge free withdrawal allocation in the third year will be 22.5%.
The charges will not be invoked on death and regular withdrawals.
Money within a bond relating to any additional investment will be separately identifiable from the initial investment or any other additional investments made into that bond.
The allocation rate is between 100% and 101.75% as shown;
£50,000 + 101.75%
Allocation % £5K
The allocation rate for investments of £5,000 is 100%.
Allocation % £10K
The allocation rate for investments of £10,000 is 100.5%.
Allocation % £25K
The allocation rate for investments of £25,000 is 101.5%.
Allocation % £50K
The allocation rate for investments of £50,000 is 101.75%.
There is no loyalty bonus paid.
Projected maturity values for £5,000 invested for 5 years
Projected maturity values for £25,000 invested for 5 years
Projected maturity values for £5,000 invested for 10 years
Projected maturity values for £25,000 invested for 10 years
Number of funds available
There are 19 funds available for investment, they are as follows:
UK Equity High Income
UK Smaller Companies
Gilt & Fixed Interest
Index Tracker/Passive Managed funds available
There are no passively managed funds available for investment.
Externally managed funds
There are no externally managed funds available.
Managed fund name
Performance - 12 months
-7.90 % ' % change over period 01/12/00 to 03/12/2001.
Performance - 36 months
12.70 % ' % change over period 01/12/98 to 03/12/2001
Performance - 60 months
17.70 % ' % change over period 01/12/96 to 03/12/2001
Number of free switches per year
There are 12 free switches permitted per annum.
Charge per fund switch (£)
There is a charge of £50 for subsequent switches.
Simultaneous switches count as one.
Plan can be written on a single life basis
The plan may be written on a single life basis.
Plan can be written on a joint life 1st death basis
The plan may be written on a joint life first death basis. Only two lives are permitted on this basis and the oldest life must not be more than 90 years attained.
Plan can be written on a joint life 2nd death basis
The plan may be written on a joint life second death basis. The youngest life must not be more than 90 years attained.
Option to split the plan into a cluster of policies
The plan will be issued as 100 policies. If required the bond can at a later date be split into a number of clusters, each administered separately.
Percentage paid out on death of the life assured
Death benefit will be 101% of fund value unless the relevant life assured is aged 80 or over at outset when it will be 100%. The relevant life assured is the younger life for joint life last survivor cases, and the older life for joint life first death cases.
Fixed sum regular withdrawals available
A maximum 7.5% per annum regular 'income' withdrawal may be pre-specified, based on the initial investment.
The minimum amount for regular withdrawals is £240 per year e.g £20 per month or £120 every six months.
Regular withdrawals as a fixed percentage of current value
Regular withdrawals are not available as a fixed percentage of current value.
Withdrawals can be increased automatically
There is no automatic increase option.
Regular income payment frequencies
Regular withdrawals may be taken annually, half-yearly, termly, quarterly or monthly.
Phased investment option available
There is no phased investment option.
Share exchange scheme available A share exchange facility is available.
Provider's web site
Senior Managers Regime
Interest rate outlook unchaged
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