How To Value Royal Life With Profits
|
|
|
- Mildred Kennedy
- 3 years ago
- Views:
Transcription
1 Bonus Rates Royal London - Life Business Regular Bonus Rates: Regular Premium Single Premium 0.5% 0.5% % 0.5% For policies taken out after 2004 the regular bonus rates are greater than 0.5% Final Bonus Rates - Regular Premiums: Term From 1 January From 1 January % 28.4% % 30.7% % 47.8% Final Bonus Rates - Single Premium: Term From 1 January From 1 January % 11.6% % 25.4% % 68.1% Conventional with profits policies were not available after 1 January 2001 therefore there are no policies maturing with a ten year term. Regular and final bonuses for Royal London ordinary branch life products are shown as percentages of the sum assured.
2 Bonus Rates Scottish Life Life Business Regular Bonus Rates conventional with profits endowment: The following rates of regular bonus have been declared for and until further notice interim bonus for will also be at these rates. Rates for 2011 are also shown. Bonus on basic benefit Bonus on declared bonus additions 0.1% 0.1% % 0.1% Regular Bonus Rates unitised with profits endowment: Bonus on basic benefit Bonus on declared bonus additions 1.25% 1.25% % 1.25% Final Bonus Rates conventional with profits endowment: Bonus rates are expressed as a percentage of the sum assured and attaching regular bonuses. Term From 1 January From 1 January 15 33% 23% 20 43% 33% 25 49% 38% Conventional with profits policies were not available with effect from September 1998 therefore there are no policies maturing with a ten year term.
3 Final Bonus Rates unitised with profits endowment: Unitised with profits units attract final bonus rates depending on the number of years they have been invested. Premium Paid on From 1 January From 1 January 01/01/ 5% n/a 01/01/ % 5% 01/01/ % 11% 01/01/ % 17% 01/01/ % 6% 01/01/ % 7% 01/01/ % 12% 01/01/ % 26% 01/01/ % 32% 01/01/ % 34% 01/01/ % 21%
4 Sample conventional with profits savings endowment maturity payouts This table shows sample savings endowment payouts compared to those of different policies maturing a year earlier. Term 25 years Royal London 32, % 33, % Scottish Life 30, % 30, % Sample unitised with profits savings endowment maturity payouts This table shows sample savings endowment payouts compared to those of different policies maturing a year earlier. Term 10 years Scottish Life 7, % 7, % Sample conventional with profits mortgage endowment maturity payouts This table shows sample mortgage endowment payouts compared to those of different policies maturing a year earlier. Term 25 years Royal London 31, % 32, % Scottish Life 28, % 28, %
5 Notes: Royal London figures: These bonus payments apply to holders of Royal London conventional with profits life policies only; separate bonus rates apply to policyholders with United Friendly, Refuge and Royal Liver, which are now part of the Royal London Group. Separate bonuses also apply to unitised with profits life, pensions and ISA business written by Royal London. Details are available on request. Scottish Life figures: The conventional bonus rates apply only to holders of Scottish Life with profits life policies in the Scottish Life Fund i.e. policies written prior to 1 July 2001 (the date on which the Scottish Life business was acquired by Royal London) Since 1 July 2001, with profits policies for the Scottish Life brand have been written in the Royal London Long Term fund. In respect of all of the above figures: All examples based on male aged 30 next birthday at outset paying 50 per month, maturing on the dates shown. No allowance has been made when calculating the returns for the benefit of any Life Assurance Premium Relief nor for the cost of provision of life assurance cover throughout the policy term. Past performance is not a guide to future. Investment returns may fluctuate and are not guaranteed. Future payouts can go down as well as up. An individual may not get back the value of the original investment. The figures quoted are only illustrative. If a recommendation is made, an assessment of an individual s needs must be confirmed and Key Features provided, together with a projection which is personal to an individual s circumstances.
6 Bonus Rates Royal London Pension Business Regular Bonus Rates: Regular Premium Single Premium 1.0% 1.0% % 0.5% Final Bonus Rates - Regular Premiums: Term From 1 January From 1 January % 27.7% % 50.4% % 69.7% Final Bonus Rates - Single Premiums: Term From 1 January From 1 January % 80.2% % 145.9% % 215.1% Conventional with profits policies were not available after 1 January 2001 therefore there are no policies maturing with a ten year term. For Royal London pensions, a sum assured is not defined at the outset. Instead the premiums are accumulated at a rate of return equal to the regular bonus to build up a "notional personal fund". Final bonuses are shown as percentages of the notional personal fund at retirement.
7 Bonus Rates Scottish Life Pension Business The following rates of regular bonus have been declared for, and until further notice interim bonus for will also be at these rates. Rates for 2011 are also shown. Regular Bonus Rates - conventional with profits - individual pensions: Bonus on basic benefit Bonus on declared bonus additions 0.1% 0.1% % 0.1% Regular Bonus Rates - unitised with profits - individual pensions: Bonus on basic benefit Bonus on declared bonus additions 2.0% 2.0% % 2.0%
8 Scottish Life Pension Business Final Bonus Rates - Regular Premiums - conventional with profits - individual pensions: Bonus rates are expressed as a percentage of the basic benefit and attaching regular bonuses. Term From 1 January From 1 January 15 31% 24% 20 34% 26% Final Bonus Rates - Single Premiums - conventional with profits - individual pensions: Bonus rates are expressed as a percentage of the basic benefit and attaching regular bonuses. Term From 1 January From 1 January 15 34% 21% 20 18% 17% Final Bonus Rates Single Premium - unitised with profits individual pensions: Unitised with profits units attract final bonus rates depending on the number of years they have been invested. SP Paid on From 1 January From 1 January 01/01/ 5% 01/01/ % 5% 01/01/ % 10% 01/01/ % 17% 01/01/2008 9% 3% 01/01/ % 4% 01/01/ % 9% 01/01/ % 21% 01/01/ % 27% 01/01/ % 29% 01/01/ % 14%
9 Sample conventional with profits personal pension payouts Regular Premiums This table shows sample personal pension fund values compared to those of different policies maturing a year earlier. Term 20 years Royal London 88, % 89, % Scottish Life 83, % 79, % Sample unitised with profits personal pension payouts Regular Premiums This table shows sample personal pension fund values compared to those of different policies maturing a year earlier. Term 10 years Scottish Life 30, % 29, % Sample conventional with profits personal pension payouts Single Premiums This table shows sample personal pension fund values compared to those of different policies maturing a year earlier. Term 20 years Royal London 45, % 48, % Scottish Life 38, % 38, % Sample unitised with profits personal pension payouts Single Premiums This table shows sample personal pension fund values compared to those of different policies maturing a year earlier. Term 10 years Scottish Life 18, % 14, %
10 Notes: Royal London figures: The retirement fund values shown above reflect investment conditions and other factors over those policy terms and are, therefore, not a guide to future values. These bonus payments apply to holders of Royal London conventional with profits pension policies only; separate bonus rates apply to policyholders with Scottish Life, United Friendly, Refuge and Royal Liver, which are now part of the Royal London Group. Separate bonuses also apply to unitised with profits life and pensions business written by Royal London. Details are available on request. Scottish Life figures: The fund values shown are the open market option values. The open market option values shown above reflect investment conditions and other factors over those policy terms and are, therefore, not a guide to future values. The bonus rates apply only to holders of Scottish Life conventional with profits pension policies in the Scottish Life Fund i.e. policies written prior to 1 July 2001 (the date on which the Scottish Life business was acquired by Royal London) Since 1 July 2001, with profits policies for the Scottish Life brand have been written in the Royal London Long Term fund. In respect of all of the above figures: All examples based on a male retiring at age 65 paying 200 per month or 10,000 single premium. Past performance is not a guide to the future. Investment returns may fluctuate and are not guaranteed. Future payouts can go down as well as up. An individual may not get back the value of the original investment. The figures quoted are only illustrative. If a recommendation is made, an assessment of an individual s needs must be confirmed and Key Features provided, together with a projection which is personal to an individual s circumstances.
11 Additional Information Assets backing Royal London With Profits Business As at 31 December As at 31 December 2011 Property 14% 13% Bonds 44% 42% Equities 42% 42% Cash / other 0% 3% Since 1 January 2010 the asset mix and the investment return credited to asset share varies depending on the type of policy and according to how long the policy has left until its maturity date. The tables below show the investment mix of example Royal London with profits policies at 31 December and 31 December Number of years to maturity date Approximate proportion invested in company shares and property As at 31 December Approximate proportion invested in government bonds, other bonds and cash 15 72% 28% 10 67% 33% 5 42% 58% 1 24% 76% Number of years to maturity date Approximate proportion invested in company shares and property As at 31 December 2011 Approximate proportion invested in government bonds, other bonds and cash 15 70% 30% 10 66% 34% 5 45% 55% 1 27% 73% The figures quoted here are for the Royal London open fund only.
12 Return on with profits policies within the Royal London Fund During the investments underlying the asset shares of with profits policies in the Royal London Fund returned 8.6% gross, compared with 6.0% in However, as the investment mix varies according to the number of years until maturity, the investment returns added to asset shares for vary according to how long the policy has left until its maturity date. The tables below show the investment returns for example Royal London with profits policies for and Number of years to maturity date Investment return before tax and charges % % 5 8.2% 1 7.6% 2011 Number of years to maturity date Investment return before tax and charges % % 5 8.1% % The figures quoted here are for the Royal London open fund only.
13 Assets backing Scottish Life With Profits Business As at 31 December As at 31 December 2011 Property 2% 2% Bonds 74% 74% Equities 22% 22% Cash / other 2% 2% Notes: 1. The Scottish Life Fund closed to new business on 1 July 2001 (the date Scottish Life was acquired by Royal London). All new premiums and policies since that date are invested in the main Royal London Long Term Fund. 2. Although the overall asset mix is as above, there are variations between policies according to proximity to maturity and levels of attaching guarantees. Return on with profits policies within the Scottish Life Fund During the investments underlying the asset shares of with profits policies in the Scottish Life Fund returned 6.6% gross, compared with 7.5%, in Note: all figures in the Additional Information section are at present unaudited.
SCOTTISH WIDOWS WITH-PROFITS BONUS RATES
SCOTTISH WIDOWS WITH-PROFITS BONUS RATES 11 January 2016 Scottish Widows announces changes to bonus rates for its with-profits policies as of 1 January 2016. Regular bonus has been added to 295,000 unitised
Terminal bonus. 1 2 3 4 5 6 7 8 Endowment assurance 10 n/a n/a n/a n/a n/a n/a. Endowment assurance 15 11286 3443 n/a CWP N 11286
126 Long-term insurance business : With-profits payouts on maturity (normal retirement) Form 59A PEARL ASSURANCE PUBLIC LIMITED COMPANY Date of maturity value / open market option 01 March 2015 Original
Standard Life announced a review of its UK with-profits bonus rates on 28 January 2016.
Standard Life Assurance Limited With-profits bonus declaration 28 January 2016 Standard Life announced a review of its UK with-profits bonus rates on 28 January 2016. Most customers will have a seen a
> How does our With-Profits Fund work? > What are bonuses? > How are regular bonuses worked out?
Your With-Profits Plan a guide to how we manage the Fund Conventional With-Profits Plans originally issued by Scottish Amicable Life Assurance Society (SALAS) Your With-Profits Plan is a medium to long-term
SUP Ann 6R: Persistency Report
SUP Ann 6R: Persistency Report 1. REP003 Persistency Report Nil Return Declaration 2. Persistency Report Life Policies 3. Persistency Report Stakeholder Pensions Financial Conduct Authority REP003 Persistency
BRIEFING NOTE. With-Profits Policies
BRIEFING NOTE With-Profits Policies This paper has been prepared by The Actuarial Profession to explain how withprofits policies work. It considers traditional non-pensions endowment policies in some detail
D1.03: MORTGAGE REPAYMENT OVERVIEW
D1.03: MORTGAGE REPAYMENT OVERVIEW SYLLABUS Repayment mortgages Repayment profile Interest only mortgages Full and low cost endowment mortgages Unit-linked endowment mortgages ISA mortgages Pension mortgages
Your With-Profits Plan a guide to how we manage the Fund Prudential Unitised With-Profits Plans and Cash Accumulation Plans
Your With-Profits Plan a guide to how we manage the Fund Prudential Unitised With-Profits Plans and Cash Accumulation Plans Your With-Profits Plan is a medium to long-term investment that: > combines your
Broker Guide to Canada Life Products Version 42
This document is intended for Financial Advisors only and not consumers. Broker Guide to Canada Life Products Version 42 SOURCE: Marketing Information valid as per April 2013 This Guide does not form part
Your With-Profits Plan a guide to how we manage the Fund Prudential Conventional With-Profits Plans
Your With-Profits Plan a guide to how we manage the Fund Prudential Conventional With-Profits Plans Your With-Profits Plan is a medium to long-term investment that: > combines your money with money from
A guide to your savings and life insurance policy
With-Profits Guide A guide to your savings and life insurance policy (With-Profits Endowment policies) Your policy A reference guide to how your savings and life insurance policy works At a glance some
Principles and Practices Of Financial Management
Principles and Practices Of Financial Management Wesleyan Assurance Society (Open Fund) Effective from 1 August 2008 Wesleyan Assurance Society Head Office: Colmore Circus, Birmingham B4 6AR Telephone:
Abbey Life Assurance Company Limited Participating Business Fund
Abbey Life Assurance Company Limited Participating Business Fund Principles and of Financial Management (PPFM) 1 General... 2 1.1 Introduction... 2 1.2 The With-Profits Policies... 2 2 Structure of these
PHOENIX LIFE ASSURANCE LIMITED LONDON LIFE WITH-PROFITS FUND FORMER LONDON LIFE AMP (UK) WITH-PROFITS PENSION POLICIES
With-profits policy performance your questions answered January 2015 PHOENIX LIFE ASSURANCE LIMITED LONDON LIFE WITH-PROFITS FUND FORMER LONDON LIFE AMP (UK) WITH-PROFITS PENSION POLICIES The aim of this
HOW WE MANAGE THE PHOENIX LIFE LIMITED SPI WITH-PROFITS FUND
HOW WE MANAGE THE PHOENIX LIFE LIMITED SPI WITH-PROFITS FUND A guide for trustees with Simplified Pension Investment deposit administration policies invested in this fund The aims of this guide The guide
Windsor Life Assurance Company Limited. Windsor Life With-Profit Fund. Principles and Practices of Financial Management
Windsor Life Assurance Company Limited Windsor Life With-Profit Fund Principles and Practices of Financial Management July 2011 Registered in England No. 754167. Registered Office: Windsor House, Telford
Products covered by the reporting requirement in SUP 16.11
16 Annex 20G Products covered by the reporting requirement in SUP 16.11 G This is the guidance referred to in SUP 16.11.6G. SUP 16.11.3R requires certain firms to report product sales data. For reporting
ENDOWMENT MORTGAGE QUESTIONNAIRE (EMQ)
ENDOWMENT MORTGAGE QUESTIONNAIRE (EMQ) This questionnaire asks you for your personal and financial details at the time your endowment policy was arranged. We need these details to be able to handle your
Scottish Friendly Assurance Society Limited
Scottish Friendly Assurance Society Limited Principles and Practices of Financial Management for With-Profits Business Transferred from Scottish Legal Life Scottish Friendly Assurance Society Limited Principles
This guide is for you, if you have a with-profits life assurance policy with either
This guide is for you, if you have a with-profits life assurance policy with either Guardian Assurance Ltd or Countrywide Assured 1 of 14 CONTENTS 1 What is this guide for? 2 Background to Guardian Assurance
B1.03: TERM ASSURANCE
B1.03: TERM ASSURANCE SYLLABUS Term assurance Increasing term assurance Decreasing term assurance Mortgage protection Renewable and convertible term assurance Pension term assurance Tax treatment Family
Products covered by the reporting requirement in SUP 16.11. This is the guidance referred to in SUP 16.11.6G.
16 Annex 20G Products covered by the reporting requirement in SUP 16.11 G This is the guidance referred to in SUP 16.11.6G. SUP 16.11.3R, SUP 16.11.5R and SUP 16.11.5AR require certain firms to report
INSTITUTE OF ACTUARIES OF INDIA
INSTITUTE OF ACTUARIES OF INDIA EXAMINATIONS 17 th November 2011 Subject CT5 General Insurance, Life and Health Contingencies Time allowed: Three Hours (10.00 13.00 Hrs) Total Marks: 100 INSTRUCTIONS TO
WITH-PROFITS GUIDE A GUIDE TO YOUR SAVINGS AND LIFE INSURANCE POLICY (WITH-PROFITS ENDOWMENT POLICIES)
WITH-PROFITS GUIDE A GUIDE TO YOUR SAVINGS AND LIFE INSURANCE POLICY (WITH-PROFITS ENDOWMENT POLICIES) CONTENTS Page 1 Introduction 2 2 What is this guide for? 2 3 What is a with-profits policy? 2 4 What
WHAT YOU NEED TO KNOW ABOUT ISAs
WHAT YOU NEED TO KNOW ABOUT ISAs How to protect and grow your ISA savings, or use them to generate income ISA Portfolio About MetLife As the UK market leaders in guaranteed retirement solutions, we understand
A guide to unit-linked investments
A guide to unit-linked investments Introduction This guide covers NFU Mutual s unit-linked investments. These are policies in which your money is used to purchase units in a particular fund or combination
HOW WE MANAGE THE PHOENIX LIFE LIMITED PHOENIX WITH-PROFITS FUND
HOW WE MANAGE THE PHOENIX LIFE LIMITED PHOENIX WITH-PROFITS FUND A guide for policyholders with unitised with-profits policies (except for Profit Plus Fund policies) invested in this fund The aims of this
Understanding with profits. With Profits Pension Annuity
Understanding with profits With Profits Pension Annuity This booklet tells you how we manage our With Profits Pension Annuity business only. There are separate Understanding With Profits booklets for other
Phoenix Life Assurance Limited. Phoenix Life Assurance Limited. Principles and Practices of Financial Management
Phoenix Life Assurance Limited Phoenix Life Assurance Limited Principles and Practices of Financial Management July 2015 Phoenix Life Assurance Limited Principles and Practices of Financial Management
11.4.2. Phoenix Life Limited. Principles and Practices of Financial Management
11.4.2 Phoenix Life Limited Principles and Practices of Financial Management July 2015 Phoenix Life Limited Principles and Practices of Financial Management Introduction and Background Contents Page 1.
Standard Life Assurance Limited OCTOBER 2013. Principles and Practices of Financial Management for the Heritage With Profits Fund
Standard Life Assurance Limited OCTOBER 2013 Principles and Practices of Financial Management for the Heritage With Profits Fund Preface... 3 Background to the Principles and Practices of Financial Management...
This guide is for you, if you have a traditional with-profits pension policy with either
This guide is for you, if you have a traditional with-profits pension policy with either Guardian Assurance Ltd or Countrywide Assured 1 of 15 CONTENTS 1 What is this guide for? 2 Background to Guardian
CCL Simplicity. Financial Report prepared for. David & Ruth East. 19 July 2007. This report is a summary of discussions held with.
Financial Report prepared for David & Ruth East on 19 July 2007 This report is a summary of discussions held with Nick Bewley on 11 May 2007 The following recommendations are based upon the information
POLICE MUTUAL ASSURANCE SOCIETY. Principles and Practices of Financial Management July 2015. PPFM v16.4
PPFM v16.4 1. INTRODUCTION... 1 1.1. Purpose and History... 1 1.2. Fair and effective management... 2 1.2. Overview... 3 1.3. Principles of Financial Management... 4 1.4. Practices of Financial Management...
THE EQUITABLE LIFE ASSURANCE SOCIETY
Annual FSA Insurance Returns for the year ended 31 December 2004 Appendices 9.1, 9.3, 9.4 & 9.6 from the Interim Prudential Sourcebook for Insurers Registered Office 20-22 Bedford Row, London, WC1R 4JS
Commercial Union Life Assurance Company Limited
Commercial Union Life Assurance Limited Registered office: St Helen s, 1 Undershaft, London, EC3P 3DQ Annual FSA Insurance Returns for the year ended 31st December 2002 Accounts and statements pursuant
Annuities and decumulation phase of retirement. Chris Daykin UK Government Actuary Chairman, PBSS Section of IAA
Annuities and decumulation phase of retirement Chris Daykin UK Government Actuary Chairman, PBSS Section of IAA CASH LUMP SUM AT RETIREMENT CASH INSTEAD OF PENSION > popular with pension scheme members
Guide to an Endowment Policy
Guide to an Endowment Policy What is an Endowment policy? What are the different types of Endowment policies? What is a With Profits Investment? How are bonuses calculated? What are my options if I need
THE EQUITABLE LIFE ASSURANCE SOCIETY
THE EQUITABLE LIFE ASSURANCE SOCIETY Annual PRA Insurance Returns for the year ended 31 December 2013 Appendices 9.1, 9.3, 9.4, 9.4A & 9.6 from the Interim Prudential Sourcebook for Insurers Registered
Bonus Rates as on 31 st March 2015
Bonus Rates as on 31 st March Best Years - Bonus Interest Rates Bonus Interest Rates (p.a.) Best Years Retirement Plans (UIN:114N014V01, 114N040V01) Gross return on accumulated funds in Individual Pension
For adviser use only. Your Guide to Relevant Life Policies
For adviser use only Your Guide to Relevant Life Policies Your guide to relevant life policies Welcome to the Scottish Provident guide to relevant life policies. In this guide you will find all the information
Summary Box Key Product Information for our Savings Account(s)
Interest Rate Conditions for bonus payment Withdrawal arrangements Premium Saver One or more withdrawals in the month 1 24,999 0.10% 25,000 49,999 0.10% 50,000 1,000,000 0.20% Over 1,000,000 0.20% No withdrawals
IRISH FEDERATION FACTFILE INSURANCE. Irish Insurance Federation Factfile 2010 1
IRISH INSURANCE FEDERATION 10 FACTFILE Irish Insurance Federation Factfile 2010 1 Who are we? The Irish Insurance Federation (IIF) is the representative body for insurance companies in Ireland representing
The Prudential Assurance Company Limited
The Prudential Assurance Company Limited Annual FSA Insurance returns for the year ended 31 December 2006 (Appendices 9.4 and 9.4A valuation reports) The Prudential Asurance Company Limited is registered
Basic Facts about Variable Annuities
Basic Facts about Variable Annuities Variable annuities are long-term investment vehicles that provide a unique combination of insurance and investment features. Fundamentally, a variable annuity is an
Savings Account Rates. Rates correct as at 18 November 2013
Savings Account Rates Rates correct as at 18 November 01 Contents Accounts available to new customers Instant Saver Account Cash ISA First Saver Account Fixed Rate Bond Fixed Rate ISA Accounts not available
Glossary of insurance terms
Glossary of insurance terms I. Insurance Products Annuity is a life insurance policy where an insurance company pays an income stream to an individual, usually until death, in exchange for the payment
PRINCIPLES AND PRACTICES OF FINANCIAL MANAGEMENT.
PPFM JULY 2013 PRINCIPLES AND PRACTICES OF FINANCIAL MANAGEMENT 1 PRINCIPLES AND PRACTICES OF FINANCIAL MANAGEMENT. This is an important document, which you should read and keep. 2 PRINCIPLES AND PRACTICES
3 Why are annual bonus rates so low and when might you increase them?
With-profits policy performance your questions answered January 2015 PHOENIX LIFE LIMITED NPI WITH-PROFITS FUND WITH-PROFITS INVESTMENT BONDS This leaflet aims to answer questions that are often asked
Interest Rate Changes
Interest Rate Changes We are committed to keeping you informed and up-to-date on changes in the interest rates for our fixed and variable rate products. Included are details of rate changes that have applied
Retirement Chapters 10 SM Fixed Index Annuity
Retirement Chapters 10 SM Fixed Index Annuity Personalized Hypothetical Annuity Illustration Prepared For Im A. Client Prepared On May 1, 2015 Prepared By Im A. Producer Producer Firm 123 Any Street Anyplace,
life and general annuity, pensions, permanent health and supplementary Appendix 9.4A Abstract of valuation report for realistic valuation 251
Contents Page Appendix 9.4 Abstract of valuation report 2 Structure of the long term business 2 Valuation Reports Ordinary branch life and general annuity, pensions, permanent health and supplementary
INSTITUTE AND FACULTY OF ACTUARIES EXAMINATION
INSTITUTE AND FACULTY OF ACTUARIES EXAMINATION 27 April 2015 (pm) Subject CT5 Contingencies Core Technical Time allowed: Three hours INSTRUCTIONS TO THE CANDIDATE 1. Enter all the candidate and examination
Life Assurance (Provision of Information) Regulations, 2001
ACTUARIAL STANDARD OF PRACTICE LA-8 LIFE ASSURANCE PRODUCT INFORMATION Classification Mandatory MEMBERS ARE REMINDED THAT THEY MUST ALWAYS COMPLY WITH THE CODE OF PROFESSIONAL CONDUCT AND THAT ACTUARIAL
PREMIUM AND BONUS. MODULE - 3 Practice of Life Insurance. Notes
4 PREMIUM AND BONUS 4.0 INTRODUCTION A insurance policy needs to be bought. This comes at a price which is known as premium. Premium is the consideration for covering of the risk of the insured. The insured
FORMER BRITANNIC ASSURANCE PERSONAL PENSION PLAN (CHANNEL ISLANDS)
Important Information for Phoenix Life Limited Britannic With-Profits Fund Customers FORMER BRITANNIC ASSURANCE PERSONAL PENSION PLAN (CHANNEL ISLANDS) 1 January 2016 Your investment with Phoenix Life
Reminder of important facts Pensions
CIS PENSION ANNUITY POLICY Reminder of important facts Pensions What is a Pension Annuity policy? Your pension policy is a tax-efficient way of building up a pension pot to provide you with pension benefits
Direction. 3. The FSA directs that the rule listed below does not apply to the firm.
Direction To: Wesleyan Assurance Society (the "firm") Ref: 906734 Of: Colmore Circus Birmingham B4 6AR Date: 10 July 2008 Handbook version as in force at the date of this Direction Power 1. This direction
Funds held in Life and Pension products in 2012
DATA BULLETIN November 2013 Funds held in Life and Pension products in 2012 At the end of 2012, the total money invested in life and pension funds was 2,735bn, an increase of 7% from 2,560bn in 2011. Money
Save, Secure and Prosper. IndiaFirst Simple Benefit Plan (Non Linked Individual Participating Endowment Plan)
Save, Secure and Prosper IndiaFirst Simple Benefit Plan (Non Linked Individual Participating Endowment Plan) Before You Start Reading Important Note IndiaFirst Simple Benefit Plan is referred to as the
AIG Life. AIG Relevant Life Insurance. Adviser guide
AIG Life AIG Relevant Life Insurance Adviser guide Contents The basics 4 What is relevant life insurance? 4 Who is it suitable for? 4 What are the conditions that have to be met for relevant life insurance?
Consumer Guide SLOC With-Profits Fund for Life Insurance Plans
1 Consumer Guide SLOC With-Profits Fund for Life Insurance Plans Life s brighter under the sun Contents Aims of this guide 4 What does this guide cover? 4 What is a with-profits plan? 4 How does the SLOC
INSTRUCTIONS QUARTERLY REPORTING (C.B. 40/1 TO 40/4)
INSTRUCTIONS QUARTERLY REPORTING (C.B. 40/1 TO 40/4) The Quarterly Reports are to be completed by all financial Institutions for the periods January March, April-June, July September and October December
MITSUI SUMITOMO INSURANCE COMPANY, LIMITED AND SUBSIDIARIES. CONSOLIDATED BALANCE SHEETS March 31, 2005 and 2006
CONSOLIDATED BALANCE SHEETS March 31, 2005 and 2006 2005 2006 ASSETS Investments - other than investments in affiliates: Securities available for sale: Fixed maturities, at fair value 3,043,851 3,193,503
Life Assurance Plans
Life Assurance Plans SLFC Assurance UK With-Profits Fund bonus rates from 1 April 2015 Why are we sending you this brochure? This brochure accompanies your Annual Statement, providing you with further
Dick Schwanke Finite Math 111 Harford Community College Fall 2013
Annuities and Amortization Finite Mathematics 111 Dick Schwanke Session #3 1 In the Previous Two Sessions Calculating Simple Interest Finding the Amount Owed Computing Discounted Loans Quick Review of
INDUSTRIAL-ALLIANCE LIFE INSURANCE COMPANY. FIRST QUARTER 2000 Consolidated Financial Statements (Non audited)
INDUSTRIAL-ALLIANCE LIFE INSURANCE COMPANY FIRST QUARTER 2000 Consolidated Financial Statements (Non audited) March 31,2000 TABLE OF CONTENTS CONSOLIDATED INCOME 2 CONSOLIDATED CONTINUITY OF EQUITY 3 CONSOLIDATED
The Investment Bond s key features Important info you need to read
The Investment Bond s key features Important info you need to read Before applying for the Investment Bond, please read the Key Features, which you ll find on the next few pages. The Key Features explain
Press Release. NEW STUDY SHOWS OVER 50s INSURERS POCKET 86m AS CUSTOMERS LOSE 173m OF LIFE COVER IN 2014
Press Release 17 June, 2015 NEW STUDY SHOWS OVER 50s INSURERS POCKET 86m AS CUSTOMERS LOSE 173m OF LIFE COVER IN 2014 Study finds 173m of life cover was lost in 2014 through Over 50s plan cancellations
Your guide to. Participating. Policies. An initiative of
Your guide to Participating Policies 2008 An initiative of This Guide is an initiative of the MoneySENSE national financial education programme. The MoneySENSE programme brings together industry and public
WITH-PROFITS GUIDE A GUIDE TO YOUR WHOLE LIFE ASSURANCE POLICY
WITH-PROFITS GUIDE A GUIDE TO YOUR WHOLE LIFE ASSURANCE POLICY CONTENTS Page 1 Introduction 2 2 What is this guide for? 2 3 What is a with-profits policy? 2 4 What are the guarantees? 3 5 What are the
Some Observations on Variance and Risk
Some Observations on Variance and Risk 1 Introduction By K.K.Dharni Pradip Kumar 1.1 In most actuarial contexts some or all of the cash flows in a contract are uncertain and depend on the death or survival
Your Mortgage Guide. The Exchange. Property Services Mortgage Services Letting & Management Services Conveyancing Services
The Exchange Property Services Mortgage Services Letting & Management Services Conveyancing Services Your Mortgage Guide Contents: Introduction... 3 The Financial Services Authority (FCA)... 3 What is
Guaranteed Growth Funds and Offshore With-Profits With-profits summary (Hong Kong)
Guaranteed Growth Funds and Offshore With-Profits With-profits summary (Hong Kong) Clerical Medical closed to new business in Hong Kong on 1 January 2005. This document has been produced in accordance
SESSION 3: COMPANIES FINANCIAL STATEMENTS (THE BALANCE SHEET)
SESSION 3: COMPANIES FINANCIAL STATEMENTS (THE BALANCE SHEET) KEY CONCEPTS: In this session we will look at: - The Balance Sheet - Notes to the Financial Statements Trading Business X-PLANATION THE BALANCE
SUMMARY INTERIM REPORT 1Q2015
1st QUARTER REPORT 2015 1 SUMMARY INTERIM REPORT 1Q2015 The result for Norwegian Hull Club (NHC) in the first quarter of 2015 is minus USD 9.3 million. Technical result of insurance operations is minus
ST ANDREW'S LIFE ASSURANCE PLC
Annual PRA Insurance Returns for the year ended 31 December 2013 IPRU(INS) Appendices 9.1, 9.3, 9.4, 9.6 Contents Balance Sheet and Profit and Loss Account Form 2 Statement of solvency - long-term insurance
1 Regional Bank Regional banks specialize in consumer and commercial products within one region of a country, such as a state or within a group of states. A regional bank is smaller than a bank that operates
QUESTIONS AND ANSWERS - SOCIAL SECURITY INCOME AND ASSETS TESTS ASSESSMENT OF CONVENTIONAL LIFE INSURANCE POLICIES
QUESTIONS AND ANSWERS - SOCIAL SECURITY INCOME AND ASSETS TESTS ASSESSMENT OF CONVENTIONAL LIFE INSURANCE POLICIES These Questions and Answers are about the income and assets tests treatment of conventional
The 50+ Life Plan s key features Important info you need to read
The 50+ Life Plan s key features Important info you need to read Before applying for the 50+ Life Plan, please read the Key Features, which you ll find on the next few pages. The Key Features explain how
Product Options Summary
Product Options Summary A summary of the options available on your National Mutual Life Association policy or plan. This document is for your reference only. No action is required. Product Options Summary
MORTGAGE FACTSHEET -1-
MORTGAGE FACTSHEET Choosing and obtaining a mortgage is not a simple task these days - whether you are a first time buyer, moving home, or remortgaging as you reach the end of your current incentive. This
Savings Interest Rates
Savings Interest Rates Instant Access Savings Account Instant Savings Tracker Account First Home Saver Account Bonus 30 Account Instant Access ISA Direct Saver Telephone Saver Rainbow Savings Account Cash
With profits investment report
With profits investment report Quarter 1, 2016 This report gives information on the following factors that affect with profits policy values types of assets how these affect investment returns investment
Gains on foreign life insurance policies
Helpsheet 321 Tax year 6 April 2013 to 5 April 2014 Gains on foreign life insurance policies A Contacts Introduction Page 2 Part 1 Types of policy Page 3 What sort of policy do you have? Page 3 When will
LIFE INSURANCE. and INVESTMENT
INVESTMENT SAVINGS & INSURANCE ASSOCIATION OF NZ INC GLOSSARY OF LIFE INSURANCE and INVESTMENT TERMS 2 Accident Benefit A benefit payable should death occur as the result of an accident. It may be a stand-alone
Friends Life Assurance Society Limited
Annual FSA Insurance Returns for the year ended 28th December 2012 (Appendices 9.1, 9.3, 9.6) Produced using BestESP Services - UK Year ended 28th December 2012 Contents Page Appendix 9.3 Form 40 Long-term
CMS/CANOPIUS NEW BUSINESS PROPOSAL FORM 2010
1. Proposing Entities CMS/CANOPIUS NEW BUSINESS PROPOSAL FORM 2010 a) Please state below the name of your main practice. Please also enter below the full names of any other entities currently trading referring
Year ended 31 Dec 2009
PACE PLC CHANGE OF FUNCTIONAL AND PRESENTATIONAL CURRENCY AND COMPARATIVES RE-PRESENTED IN US DOLLARS Introduction Pace announced at the time of its preliminary results announcement that the Board had
AGGREGATE COMPLAINTS STATISTICS: 2006 to 2014 H1
AGGREGATE COMPLAINTS STATISTICS: 2006 to 2014 H1 (Click on the hyperlinks below) Table: 1 Complaints by product and cause Complaints by product group and cause of complaint (2014 H1) 2 Volumes 2.1 Number
Zurich Assurance Ltd Principles and Practices of Financial Management 2014 Annual Compliance Report to 90:10 With-Profits Fund Policyholders
Zurich Assurance Ltd Principles and Practices of Financial Management 2014 Annual Compliance Report to 90:10 With-Profits Fund Policyholders 22 April 2015 Contents 1. INTRODUCTION 3 2. WITH-PROFITS GOVERNANCE
FREE LIFE INSURANCE PRACTICE EXAM
FREE LIFE INSURANCE PRACTICE EXAM We offer an online video L&H exam prep course that includes over 10 hours of instruction. Our full pdf study manual and over 600 questions are also included. Please go
PURCHASE MORTGAGE. Mortgage loan types
PURCHASE MORTGAGE Mortgage loan types There are many types of mortgages used worldwide, but several factors broadly define the characteristics of the mortgage. All of these may be subject to local regulation
CONSOLIDATED STATEMENTS OF OPERATIONS
CONSOLIDATED STATEMENTS OF OPERATIONS For the years ended December 31, (in millions of Canadian dollars except for per share amounts) 2015 2014 Revenue Premiums Gross $ 16,824 $ 15,499 Less: Ceded 6,429
Flexible Premium Universal Life Insurance with an Indexed Feature A Life Insurance Illustration
Initial Base Face Amount = $ Total Initial Annual Premium = $ About the Universal Life Insurance Policy Phoenix Simplicity Index Life is a single life flexible premium universal life insurance policy with
your guide to how we manage our with-profits fund
your guide to how we manage our with-profits fund Flexible Guarantee Bond Flexible Guarantee Bond Series 2 Flexible Guarantee Funds All-In-1 Investment Bond Guaranteed Capital Bond & Flexi Guarantee Plan
ACORN LIFE PERSONAL PENSION PLAN SINGLE CONTRIBUTION PROVISIONS
ACORN LIFE PERSONAL PENSION PLAN SINGLE CONTRIBUTION PROVISIONS 1. Summary (a) This Policy is a Single Contribution Personal Pension Plan issued by us, Acorn Life Limited (the Company ). The purpose of
Pru Flexible Retirement Plan
For Adviser use only not approved for use with clients Adviser Guide Pru Flexible Retirement Plan Fast Facts Personal Pension and Drawdown with SIPP Options Prudential offers a personal pension and drawdown