Provider: Irish Life International Product: Self-directed bond (portfolio bond) This product ...
Provider: Irish Life International
Product: Self-directed bond (portfolio bond)
This product allows the investor to tailor their portfolio from a wide range of funds, unit trusts, Ucits, Oeics and other pooled investments, including Irish Life International's own range of specialist funds.
Head Office Address
Irish Life International
Irish Life Centre
Lower Abbey Street
Telephone number +353 (0)170 415 00
Fax number+353 (0)170 419 22
Place of policy issue: Dublin
Available to UK residents: Yes. Available to both UK residents and non-UK residents, but not available to residents of the Republic of Ireland, the USA or South Africa.
Minimum age attained at entry of life assured: 18
Maximum age attained at entry: Normally 74 ' available on special terms for older ages.
Minimum single investment: Minimum single investment £50,000, E70,0000 or US$7,500
Minimum additional investment: There is a minimum additional investment of £5,000, E7,000 or US$7,500.
Investments may be made by cheque and/or banker's draft: Yes
Investment may be made by telegraphic transfer: Yes
Minimum life cover: 101% of fund value
Maximum life cover:
Maximum ' age Cover as % of
at inception initial investment
These maximums are applicable where life cover only is effected on a maximum of two lives.
Additional life cover: Additional life assurance cover may be purchased of up to four times the amount initially invested.
Single life plan: Yes
Joint life first death plan: Yes
Joint life second death plan: Yes
Number of fund links available: Virtually unlimited
No of internally-managed funds available: 25 fund links available.
Access to externally managed funds: Yes
Number of external fund managers: Virtually unlimited.
With-profit fund link: No
Guaranteed/protected funds available: No
Risk-graded funds available: Risk-graded funds are available.
Mandatory cash deposit: No
Maximum number fund links per plan: No limit
Minimum value per fund/asset: There is a minimum value per fund asset of £2,500 or US$4,000
Switch allowed: Yes
Internal switch charge: No charge
Valuation dates: Quarterly
Maximum number of segments: 99
Partial surrender of segment: Yes
Minimum withdrawal allowed: £500 or US$750 per withdrawal with minimum total annual withdrawal of £2,000 or US$3,000.
Minimum withdrawal frequency: Monthly
Automatic withdrawal facility: Yes
Withdrawals expressed as a fixed amount: Yes
Withdrawal expressed as a percentage of the fund: Yes
Minimum residual bond value: £5,000 or US$7,500.
Plan can be denominated in US dollars: Yes
Plan can be denominated in pounds sterling: Yes
Plan can be denominated in euros: Yes
Plan can be denominated in other currencies: No
Variation of currency allowed: No
Annual plan administration charge: There is an administration charge of £80.80 per quarter, E118.50 per quarter or US$144 per quarter
Administration charge is inflation linked: Yes
One-off establishment charge: Up to 2.3% per annum of the greater of the fund value or the initial premium, payable for four years (depending on commission).
Establishment charge period: Four years
Allocation rate (%): 100%
Annual fund management charge: There is a fund administration charge of 1.35%
Lowest annual management charge (internally managed): 1.35%
Highest annual management charge (internally managed): 1.35%
Lowest preferred external provider AMC: No charge by ILI. However, the funds are invested in external collective investment funds which are subject to additional charges.
Highest preferred external fund AMC: No charge by ILI. However, the funds are invested in external collective investment funds which are subject to additional charges.
Encashment charge: In year one, charges are made on full withdrawals or withdrawals which reduce the value of the fund to 25% of the initial premium.
The 25% figure is reduced by 5% in each subsequent year.
Month % of fund value
Period during which encashment charge applies: Four years
Loyalty bonus: No
Additional fund charge: There is no additional fund charge.
Valuation charge: A charge (not specified) will be made for valuations other than those automatically produced quarterly.
Purchase charge: All external costs charged to the fund.
Sale charge: All external costs charged to the fund.
Dealing charge: All external costs charged to the fund.
Web link: www.irishlife-intl.com
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