Your investment Plan your next move

Transcription

1 Your investment Plan your next move Customer Brochure

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3 As your investment in the Dynamic 100 (Series 4) Fund is maturing, you have a great opportunity to size up your options and decide what to do with your investment. This booklet will give you some indication of the range of options open to you. But, nothing replaces the value of sitting down and talking through your options with a financial professional. We recommend that you talk to your Financial Broker or Advisor before you make your choice. Contents Interested in changing your investment fund? See what we have to offer 2 Some funds that may be of interest 4 Your Investment Fund Switch Form 5 Consider topping up your pension 7 Encash your policy 8 Your Encashment Form 9 Guidance on documents needed for encashment 11 1

4 Interested in changing your investment fund? As one of Ireland's most successful financial services companies, Zurich Life offers a wide range of investment funds. You can also have peace of mind knowing that Zurich Life is part of the Zurich Insurance Group which has an internationally recognised financial strength rating of AA- (Source: Standard & Poor's, 2 January 2014). What s your risk appetite? If you are interested in changing your investment fund, this handy guide will help you narrow down the fund or funds that could best match your attitude to risk and potential reward. Lower risk and potential reward If you are a very low risk investor, you are not willing to accept any significant risks with your money, accepting the prospect of low returns to achieve this. If you are a low risk investor, you are likely to accept limited risks with your money and will want to try to avoid large fluctuations in the value of your investment, accepting the prospect of more modest returns to achieve this. If you are a low to medium risk investor you are likely to accept some risk in return for the potential of higher investment gains over the long-term. You will want to try to avoid large fluctuations in the value of your investment, but accept there will be some fluctuation, particularly over the short-term. If you are a medium risk investor, you are likely to accept significant risk in return for the potential of good investment gains over the long-term. You accept there will be significant fluctuations in the value of your investment, particularly over the short-term. However, you will want to limit the amount of your money held in more risky investments. If you are a medium to high risk investor, you are likely to understand that the value of your investment can go down and up sharply with the potential for greater returns over the long-term. If you are a high risk investor, you are likely to aim for high possible returns and accept higher levels of risk, recognising that the value of your investment may fluctuate very sharply, particularly over the short-term. If you are a very high risk investor, you are likely to aim for the highest possible returns and accept the highest levels of risk, recognising that the value of your investment may fluctuate very widely, particularly over the short-term. Higher risk and potential reward Risk Rating* Lower 1 2 Higher *European Securities and Market Authority Risk Rating Scale. 2

5 Zurich Life offers a range of investment funds to suit investors' attitude to risk and return. See over for more. 3

6 Some funds that may be of interest Based on your previous choice to invest in the lower risk Dynamic 100 Fund, we've highlighted a selection of funds rated 1 to 4 on the Risk Rating chart that may be of interest. Feel like being a bit more adventurous? Zurich Life's Prisma range of funds offers extensive choice to investors. Visit zurichlife.ie for information on all our funds, or talk to your Financial Broker or Advisor. To switch funds, fill out the Fund Switch Form or talk to your Financial Broker or Advisor. Fund Name (at September 2013) Fund Description Indicative Equity Exposure ( of the value of the fund) Risk Profile Protected 80 1 Protected 90 1 Protected Funds An actively managed fund which invests in a combination of the Dynamic Fund and a Cash Fund. It provides a Protected Price of 80 of the highest ever unit price.* An actively managed fund which invests in a combination of the Dynamic Fund and a Cash Fund. It provides a Protected Price of 90 of the highest ever unit price.* Cash Fund N/A N/A 3 Variable Rate Deposit (Series 3) A unit-linked cash fund currently investing in a variable rate deposit account provided by RaboDirect. 0 1 Managed/Unitised With-profits Funds SuperCAPP A unitised with-profits fund that aims to deliver a regular return, consistent with prevailing mediumterm interest rates while maintaining the potential for higher growth than a bank deposit account. Returns are distributed through Annual and Special Dividends. Dividend distributions aim to provide SuperCAPP policyholders with a smoothed accumulation of returns over time.* Cautiously Managed A unit-linked fund offering a well-diversified portfolio of bonds, equities and cash.* Bonds/Fixed Interest Fund Active Fixed Income An actively managed unit-linked bond fund.* 0 4 Diversified Assets Fund Active Asset Allocation A unit-linked actively managed fund diversified across a wide range of different assets - equities, bonds, property shares, alternatives and cash. Alternative assets can include oil, gold, water, soft commodities, industrial metals, index-linked bonds and corporate bonds.* Note: Annual management charges (AMCs) apply. * Some or all of the assets are invested outside the eurozone, so currency fluctuations may impact on the fund's performance. Notes: 1. These funds are available for Single Premium business only. 2. The target maximum and minimum exposure to the Dynamic Fund. It is possible for the fund to have a higher exposure to the Dynamic Fund at certain times. 3. The risk profile is not currently available. 4. The fund's exposure to equity volatility is normally controlled by limiting maximum losses and gains for the majority of the equity portfolio. 5. Please see the Fund Factsheet for details on the asset splits. Warning: The value of your investment may go down as well as up. Warning: These funds may be affected by changes in currency exchange rates. Warning: If you invest in this product you may lose some or all of the money you invest. Warning: Past performance is not a reliable guide to future performance. 4

7 Fund Switch Form To remain invested with Zurich Life, please complete this instruction and return it to Zurich Life, Zurich House, Frascati Road, Blackrock, Co. Dublin. A Policy Details Policy Number Name B Declaration Fund Switch I/We agree to the terms and conditions of the above policy being amended as set out in the enclosed Policy Endorsement. I/We acknowledge and agree that in all other respects the terms and conditions of the above policy remain the same and continue in full force and effect. I/We request Zurich Life to switch unit holdings in the above policy to the fund(s) detailed below in accordance with the terms and conditions of the policy. Policy Owner(s): Please sign and date. Signature of Policy Owner X Date Signature of Policy Owner X Date Note: If your switch instruction is received by Zurich Life on or before 30 April 2014 the switch will be processed using prices of 1 May Switch instructions received after this will be processed with effect from the date of receipt. C Fund Choice Fund Name Risk Profile Protected 70* Not Available Protected 80* Not Available Protected 90* Not Available Deposit Plus (Series 2) 1 Secure 1 Fund Switch Variable Rate Deposit (Series 3) 1 Note: You can choose a combination of up to 10 funds for your investment. Pathway 2 * 2 Global Corporate Bond (JP Morgan)* 3 Global Government Bond (JP Morgan)* 3 Income Opportunity (JP Morgan)* 3 Note: The maximum entry age for the SuperCAPP Fund is 75 next birthday. Indexed Eurozone Government Bond (BlackRock) 3 Pathway 3 * 3 SuperCAPP* 3 Active Asset Allocation* 4 Active Fixed Income* 4 *Some or all of the assets are invested outside the eurozone, so currency fluctuations may impact on the fund's performance. Cautiously Managed* 4 Dynamic Diversified Growth (BlackRock)* 4 Global Real Return (PIMCO)* 4 Inflation-linked Bond 4 5 Continued overleaf

8 C Fund Choice (continued) Fund Name Risk Profile Fund Switch Long Bond 4 Pathway 4 * 4 Balanced* 5 Diversified Assets* 5 Emerging Local Currency Debt (Pictet)* 5 Irish Government Bond Pathway 5 * 5 Performance* Americas* 6 5 Asia Pacific* Europe* Global* 6 American Select (Threadneedle)* 6 Asia Pacific Equity* 6 Australasia Property* 6 CommoditiesPLUS Strategy (PIMCO)* 6 Dividend Growth* 6 Dynamic* 6 Earth Resources* 6 Emerging Markets Opportunities (JP Morgan)* 6 Euro Markets (BlackRock) 6 Europe ex-uk Index (BlackRock)* 6 European (Ex-UK) Property* 6 European Select (Threadneedle)* 6 Eurozone Equity 6 Global Commodities* 6 Global Dividend (M&G)* 6 Global Equity (MFS Meridian)* 6 Global Property Equities (Henderson)* 6 Global Select (Threadneedle)* 6 Gold* 6 Indexed Eurozone Equity (BlackRock) 6 Indexed Global Equity Fund (BlackRock)* 6 International Equity* 6 Japan Index (BlackRock)* 6 Pathway 6 * 6 Small Cap Europe (Pictet) 6 TopTech 100* 6 UK Growth (M&G)* 6 UK Index (BlackRock)* 6 Green Resources* 7 India Equity* 7 Irish Equity 7 TOTAL 100 * Some or all of the assets are invested outside the eurozone, so currency fluctuations may impact on the fund's performance. 6

9 Consider topping up your pension Are you planning to retire over the next few years? Or you are self-employed? An AVC might be a good option for you - it offers generous tax relief while you make provision for the lifestyle you'll want when you retire. And let's face it, you'll want a nice one! AVCs are Additional Voluntary Contributions. They are extra contributions that you can make alongside your existing pension plan to increase your pension fund. They are available to anybody who is already paying into a pension plan. AVCs have lots of great benefits: The government offers generous income tax and PRSI relief on contributions. Thank you very much! Most investment growth is tax free. Happy days! You can choose from a wide range of pension funds, matching your risk and return profile. You can increase your projected pension benefits for a more comfortable retirement. AVCs open the door to extra options for you when you retire, like access to Approved Retirement Funds, known as ARFs. Sounds good? Find out more! Contact your local Financial Broker or Advisor today. Warning: If you invest in this product you may lose some or all of the money you invest. Warning: The value of your investment may go down as well as up. 7

10 Encash your policy Do you want to pay off some big bills or just treat yourself? We understand that when any fund matures, there s a big temptation to encash. Maybe you have the funds earmarked for something sensible like clearing your mortgage or for something more adventurous like climbing Machu Picchu in style. Well, whatever your choice, we ll make this easy too just complete the encashment form provided. Fill out the encashment form on pages 9 & 10. However, we would recommend that you talk about this option with your Financial Broker or Advisor and make sure it s the best possible option. You may be missing out on an opportunity to top up your pension and provide the lifestyle that you ll really want in your retirement. Talk to your Financial Broker or Advisor for more information. 8

11 Encashment Form Please complete this form to make a full or partial payment from your bond and return it to Zurich Life. Please read this form carefully together with the guidance notes on pages 11 and 12, and seek advice from your Financial Advisor, if required. Note: Please complete in BLOCK CAPITALS. Step 1: Your Policy Details Policy Number Policy Number Name of Policy Owner(s) Name of Trustee(s) (if applicable) Name of Assignee(s) (if applicable) Contact Number for Enquiries Step 2: Payment Details Please complete option 1 or 2 below. 1. Full Payment I instruct Zurich Life to fully pay the value of my policy(ies). OR 2. Partial Payment I instruct Zurich Life to make a partial payment to the value of Amount in Words (if partial payment) from my policy. Step 3: Reason for Full or Partial Payment (Optional) To help us gauge your level of satisfaction with the service we provide, please indicate your reason(s) for requesting this payment. You are not obliged to complete this section, but we would value your feedback. Please tick as appropriate: This policy no longer suits my/our needs. Yes No The cost of this policy is higher than I/we wish to pay. The fund performance has not met my/our expectations. I/we received a better offer from another financial institution. I/we are dissatisfied with the customer service provided to me/us by Zurich Life. I would recommend Zurich Life to my friends and family. Other reason, please specify: Yes Yes Yes Yes Yes No No No No No 9 Continued overleaf

12 Step 4: Payee Details Zurich Life will make the payment to policy owner(s), trustee(s) or assignee(s) as applicable. Please note if payment to a third party is required then we may need to carry out additional checks and request further Anti-Money Laundering documentation. Please make cheque payable to the following: Name of Payee(s) Note: All policy owners must sign this form. If the policy(ies) are assigned, the assignees must sign and stamp the form. If the policy(ies) is in trust, then the trustees must sign the form. Step 5: Declaration I/we wish to surrender the policy(ies) detailed in Step 1 in accordance with the terms and conditions outlined in my policy documentation and I/we acknowledge that payment will be made to the extent indicated and specified above. I/we confirm that I/we are the beneficial owner(s) of the policy(ies). Except where the policy proceeds are being paid to a financial institution as assignee, I/we confirm that I/we have not assigned or transferred ownership of my/our policy(ies) to any bank, financial institution or any other party and I/we indemnify Zurich Life Assurance plc against any claims, losses and damages incurred by Zurich Life which arise from any other party making a claim in relation to this policy. Policy Owner(s) (Trustee/Assignee, if applicable) Please sign and date. Assignee, (if applicable): Please stamp and date. Signature X Signature X Stamp X Date Date Date IMPORTANT Step 6: Payment Requirements Checklist Please ensure that the following checklist is completed and returned. Please note, once we receive all requirements listed on this form, as applicable, we will proceed with your request. Please tick Have you fully completed, signed and dated this request form? Have you enclosed, if required, all the Anti-Money Laundering documentation? Certified copy of current photo ID for all policy owners; or all trustees and policy owner(s) if the policy(ies) is in trust. Certified copy of current utility bill, for example, for all policy owners; or all trustees and policy owner(s) if the policy(ies) is in trust. Have all policy owners/trustees signed the request? If the policy is assigned this Payment Request Form should also be stamped or signed by the assignees. If the policy is assigned, have you enclosed the Deed of Assignment? Please note we may ask for further documentation to protect your policy and assets. 10

13 Guidance on documents needed for encashment By completing and returning the form on pages 9 & 10, you are instructing Zurich Life Assurance plc (Zurich Life) to make a full or partial payment from your bond. Below we provide guidance on the documentation required in order for us to make a payment to you. If you have any additional queries, please do not hesitate to contact our Customer Service team on or customerservices@zurich.com. Important Details Anti-Money Laundering documentation is required for all policy payments. If these documents have not been submitted previously (for example at application stage), they will need to be sent to us so we can efficiently process your payment. Where a policy is jointly owned, Anti-Money Laundering documentation is required for both policy owners. In some cases, we will be required to seek further additional Anti-Money Laundering documentation. It is important to note that early payment of your policy may attract a penalty. The proceeds of your policy may be subject to tax. A partial payment may reduce your sum insured by the partial encashment amount, excluding any bonus. A partial payment may result in a premium increase at the next policy review - if applicable to your policy. Once your policy has been fully encashed you will lose any valuable life assurance protection (if applicable) and you may not restart this policy. As you get older taking out a new life assurance protection policy (if applicable) is likely to be more expensive. Verifying and Protecting your Identity Why do we need to verify your identity? The Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 came into force on 15th July 2010 and placed increased obligations on financial institutions such as Zurich Life. This means that we must identify our customers and appropriately verify each customer s identity (including the beneficiary and beneficial owner where applicable). For saving and investment products this is done via proof of identity and proof of address. Once we have received appropriate Anti-Money Laundering documents from you we will not request them again for any other policies. What can you use to verify your identity? To verify your identity you should send us a certified copy of one of the following documents*: Current passport Current driving licence These documents must be current (i.e. not expired), valid and the photograph and dates must be clearly legible. What can you use to verify your current residential address? To verify your current address you should send us a certified copy of one of the following documents*: Utility bill, e.g. electricity bill, telephone or mobile phone bill Bank statement or credit card statement Building Society statement Official documentation from a health insurer (for example VHI) which specifically references your policy, as well as your address Other official documentation from a credit institution or insurance company (other than Zurich Life) regulated by the Central Bank of Ireland which specifically references an account or policy in your name, as well as your address Instrument of a Court Appointment (Grant of Probate for verification of identity of Executor) These documents must be current i.e. no more than six months old. The above list of documents is not exhaustive and other documents may be acceptable. Please contact your Financial Advisor for further guidance on acceptable documentation. * Please note that one of each of these documents will be required to process the full/partial payment, where Zurich Life is not already in possession of these documents. When do we need to verify your identity and current residential address? Usually this is done at application stage. However, if we do not already have proof of identity and proof of address for you, we can verify this information when you apply for a full/partial payment. 11

14 How to certify your documents Anti-Money Laundering documents can be certified by any of the individuals listed below. To certify your documents a clear photocopy should be taken of the document. The photocopy should then be marked Original Sighted and the certifier should sign and print their name, the date and their contact number on the certified document. This certified copy should then be sent to us along with the completed Payment Request Form. Who can certify your documents? Any of the following people can certify that the copy of the document you are sending to us is the same as the original: Financial Advisor Garda Síochána Practising Chartered or Certified Public Accountant Notaries Public or Practising Solicitors/Commissioner for Oaths Regulated Financial Institutions Medical Professional Policies held in trust If your policy is held in trust, the request to fully or partially pay the policy should originate from the trustees and should be signed by all of the trustees. As above, Zurich Life will require a certified copy of proof of identity and and current address for all trustees and the policy owner(s). Once we have processed the request, the payment will be made to the trustees jointly. The account into which the cheque payment will be made must be in the name of the trustees. If the policy is held in trust and we have not received Anti-Money Laundering documentation previously then we will need the following before any payment can be made: Full name of the trust Nature and purpose of the trust (e.g, discretionary, testamentary, bare) Country of establishment Names of all trustees Name and address of the settler Policies that are assigned to a third party If your policy is assigned to a third party, the request to fully or partially pay this policy should be authorised by the assignees. The Payment Request Form should be stamped or signed by or on behalf of the assignees. The original Deed of Assignment should be forwarded with the Payment Request Form. We will require a certified copy of proof of identity and current address for the assignees unless the policy is assigned to a bank/ financial institution. Once the payment has been processed by Zurich Life, the payment will be made to the assignees. The payment will only be made to the policy owner(s) where Zurich Life is specifically requested to do so by the assignees. If this is the case we will also require a certified copy of proof of identity and current address for the policy owners. If your policy is assigned and you wish to instruct a payment, the assignee must first send a notification back to us releasing their interest in the policy. In this case we will also require a certified copy of proof of identity and current address for the policy owners. Further Anti-Money Laundering documentation may be required where the assignee is not a legal entity. Please complete the Payment Request Form and return it, along with Anti-Money Laundering requirements if applicable (i.e. proof of identity and proof of residential address) to: By post Zurich Life Assurance plc Zurich House Frascati Road Blackrock Co. Dublin By fax By customerservices@zurich.com Names of beneficiaries entitled to 25 or more of the trust proceeds Relevant part of Trust Deed setting out all parties to the Trust Receipt of a properly authorised mandate or equivalent from the policy owner(s) empowering the individual to establish the business relationship between Zurich Life and the Trust/ Trustees, e.g. authorised signature list. In addition, we will need to receive proof of address and of identification for one trustee, one signatory and any beneficial owner. Further Anti-Money Laundering documentation may be required for partnerships, charities and legal entities. 12

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16 Print Ref: ZURL IB Zurich Life Assurance plc Zurich House, Frascati Road, Blackrock, Co. Dublin, Ireland. Telephone: Fax: Website: Zurich Life Assurance plc is regulated by the Central Bank of Ireland. Intended for distribution within the Republic of Ireland. Coöperatieve Centrale Raiffeisen-Boerenleenbank, B.A., trading as RaboDirect, is licensed by the Dutch Central Bank in the Netherlands and is regulated by the Central Bank of Ireland for conduct of business rules. The information contained herein is based on Zurich Life's understanding of current Revenue practice as at March 2014 and may change in the future.