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The Flexible Investment Bond is a single premium investment bond offering the choice of a level or deferred option providing a wide range of charging and commission choices.
The Level Option offers a level annual management charge of 0.35% p.a. from the start of each Bond and is linked to Canada Life’s series 4 life funds. There is a loyalty bonus of 0.5% of the fund value of each Bond at the end of its 5th year and every 5 years thereafter.
The Deferred Option has no annual management charge for the first 5 years with 1% p.a. thereafter and is linked to Canada Life’s series 3 life funds. There is a loyalty bonus of 2% of the fund value of each Bond at the end of its 10th year and 1% of fund value of each Bond every 5 years thereafter.
The Flexible Investment Bond has been designed to suit all your client’s needs, offering both you and your client total flexibility. The Bond offers:
• minimum age for the policyholder of 18 years attained and no maximum age applies. For lives assured, minimum age of 3 months attained and maximum age of 89 years attained.
• a choice of over 120 funds including multi manager, giving access to internal and external investment managers.
• investment in up to 10 funds at any one time. Subsequent premiums can be invested in up to 10 different funds per payment.
• maximum 112.5% allocation of the premium paid.
• unlimited free fund switches.
• a phased investment option to enable your client to automatically move money gradually from one group of funds to another over a defined period of time, free of charge. The option can be taken at outset or added at a later date and can be applied to new and existing business.
• your client can authorise you to switch funds and to set up a phased investment option on their behalf (assuming you have the correct FSA permissions).
• your client can regularly withdraw money from the bond without charge.
• withdrawals can be targeted at one or more funds whilst leaving others untouched or spread across all funds.
• the option to add “top ups” to the investment. When determining the charges for the top up we will take into account the total premium and not just the value of the top up.
• your client can benefit from a loyalty bonus. This is payable as an addition of bonus units should the premium remain invested for a sufficient length of time.
• we offer a Share Exchange Scheme for your clients to enable them to convert an existing stocks and shares portfolio into a Flexible Investment Bond.
We can offer you:
• a fully flexible structure to meet your clients specific requirements;
• a structure that lets you select your own commission and charges;
• a choice of initial commission up to 7% of premium;
• trail commission up to 1% p.a. paid monthly which can be stopped, started and varied at any time;
• a no commission option if you work on a fee basis.
The Flexible Investment Bond is backed by our Service Charter that commits us to provide an excellent service to you and your client. This includes non performance penalties – if we don’t keep our promises, we will pay you.
Please note that past performance is not a guide for the future. The value of units can fall as well as rise and currency fluctuations may also affect performance.
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