Investors Trust Evolution Savings Plan

Investors Trust Evolution Savings Plan

The Evolution Savings Plan was launched in 2002, it’s a regular premium life assurance, also known as a contractual savings plan.

As an investor in the plan, you sign up to save an agreed amount on a regular basis for a pre-agreed number of years.  You can begin saving from as little as US$100 per month.

Like any contractual savings plan, it should not be taken out unless you fully intend to contribute for the full term agreed, because of early surrender charges and inflexibility.

Depending on the length of the plan you sign up to, you may be eligible for a penalty free surrender after 5, 10, 15, 20 or 25 years.

According to Investors Trust, this plan has the shortest initial unit period of any offshore savings plan.

What this means in plain English is, it pays the least commission to the financial adviser who sold it to you, and so it’s cheaper up front for you than other similar products.

‘Initial units’ is a term used by insurance companies to mean the amount of money that investors pay which is allocated to paying their adviser’s commission.

Investors Trust say they offer extra allocations, based on the size of your regular premium, and they give loyalty bonuses after ten years.  As such, if you remain invested and you invest heavily, the overall cost of the plan is slightly less than if you don’t.

The company also says it has a segregated portfolio structure in the Cayman Islands, which gives investors: 

“100% security via an independent third party custodians’ nominee trust account.”

The plan does offer a wide 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.  Further switches may incur a charge.