In terms of fees and charges beyond the initial units which are used to pay commission, there is an annual administration charge, a policy fee and an asset management charge.
Annual Administration Charges: For the first 10 years, 1.9% per annum of total premiums due from outset to the relevant policy anniversary.
After year 10, 0.35% per annum of total premiums due from outset to the relevant policy anniversary until the completion of the full premium payment term, no administration charge thereafter.
Policy Fee: USD/EUR 7.00 (GBP 4.5) monthly, charged at the beginning of each policy month.
0.125% monthly of fund balance, charged at the beginning of each policy month.
The plan does offer a range of investment funds from some of the leading global fund managers, including low cost exchange traded funds (ETFs), and there are 15 free fund switches per year. A fee of USD/EUR/GBP 22 is charged on each additional fund transfer request
There are no bid/offer spreads and no credit card charges on any card including Amex, and there aren’t any other hidden costs.
For as long as the assets remain invested, the asset management fee will continue to apply.