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Hansard International has been providing financial products and services to international clients since 1987 from their base on the Isle of Man.
Hansard International forms part of Hansard Global plc, which has been listed on the London Stock Exchange since 2006.
They claim to have USD 1 billion of assets under administration and provide servicing for tens of thousands of international clients.
Hansard International Limited is regulated and supervised by both the Isle of Man Financial Services Authority (IoM FSA) and the Labuan FSA (LFSA).
Vantage Platinum II is a unit-linked, regular contribution insurance contract with a fixed term, selected at outset, of between 5 and 35 whole years.
Additional lump sum contributions are also permitted.
The aim of the contract is to benefit from the potential medium to long-term increase of the value of your savings by investing the contributions you make over the contract term into the Hansard International series 2 unit funds (Hansard unit funds) – a range of unit-linked investments that are created, priced and administered by Hansard International.
Vantage Platinum II is intended for high-net-worth Malaysia-resident clients who wish to save regularly (for at least five years).
The contract owner (or oldest if there are two) must be at least 18 years old and less than 65 years old on the contract start date, and must be 75 or younger at maturity.
The contract is designed for all regular contributions to be paid at the selected level for the whole term, so you should only commit to a regular contribution level that can be maintained for the full contract term.
Regular contributions may be made either monthly, quarterly, half-yearly or yearly. Minimum contributions apply depending on the chosen frequency and contract currency as shown below:
Regular contributions can be made by credit card or bank instruction letter, or by direct debit for GBP payments from a UK bank account. Additional lump sum contributions may be made by bank transfer.
Features of Hansard International's Vantage Platinum II:
Let's have a brief look at some of the Vantage Platinum II charges as stated by Hansard International:
|Initial units||1.5% per year||Units purchased by the welcome bonus, or by any part of a regular contribution due during the initial period|
|Accumulator units||1.5% per year||Units purchased by any part of a regular contribution due after the initial period, or by additional lump-sum contributions|
|Bonus units||1.5% per year||Units allocated by the loyalty bonus|
|Initial units||5.5% per year||Units purchased by the welcome bonus, or by any part of a regular contribution due during the initial period|
Time remaining (years)
|Early surrender charge|
These charges can change from time to time and we would recommend checking Hansard International's website for the latest information.
There is a foreign currency conversion cost whenever a transaction is performed across different currencies, for example where you make a contribution in a different currency to the contract currency, or where you request
a switch between Hansard unit funds that are denominated in different currencies.
Details of the rates used are available on request from Hansard International.
Vantage Platinum II is designed for all regular contributions to be paid at the selected level for the whole term.
It is important to note that if you stop or reduce the contractual regular contribution amount you have agreed to, or if you take withdrawals, or if you surrender your contract before maturity, then this could result in you getting back less than any illustrated values and possibly less than the total amount you have contributed.
If you change your mind once your new contract starts, there is a cancellation period during which time you may cancel the contract without penalty.
This also applies to additional contribution contracts for additional lump-sum contributions and increased regular contributions.
When they issue the documents for your new contract, they will send you details of how to cancel your contract, and you will have 30 calendar days from receiving these documents to request this.
You may also cancel before you receive your contract documents by contacting Hansard International or your independent financial advisor.
If you do decide to cancel, they will give you your money back, unless the value of the Hansard unit funds you have invested in has fallen, in which case you will get back the Hansard unit fund available at that time which may not be the full amount you paid in.
However, no contract charges or penalties will be deducted, and any welcome bonus will be removed.
A mirror fund is a type of mutual fund, typically run by a life insurance company, that enables an investor to access another company's mutual fund through their insurance policies.
These types of funds usually involve extra fees and charges.
Your regular contribution contract may qualify for a welcome bonus, depending on your contribution amount and contract term.
These same qualifying levels also apply to additional contribution contracts relating to regular contribution increases.
To qualify for the welcome bonus your contract term must be 10 years or more, with a minimum regular contribution amount as set out in the following table:
The welcome bonus is calculated as a percentage of your first regular contribution that is allocated, multiplied by your contract term, subject to a maximum term of 25 years.
NOTE: If your regular contributions are not maintained at the original level for five years, or if you surrender your contract during the first five years, then the units relating to the welcome bonus will be forfeited.
I signed up thinking I was saving for the long-term…I didn't want to go home with nothing to show from my time in Dubai and I know myself well enough which is why I agreed to save for the long-term.
When my contract was up I didn't want to stay and wanted my money - I was told it was worth way less than on my statement. Total ripoff!
Substantially more cost effective, flexible and less complex options are now available for senior international professionals.
If you already hold a Hansard Vantage Platinum II savings plan and it is worth £250,000 or more, we strongly recommend you seek a Second Opinion to ensure you are on track to get and keep the life you want.