Adviser guide to Synergy Regular Invest

Transcription

1 Adviser guide to Synergy Regular Invest For financial advisers only The Synergy Regular Invest offers A regular premium investment policy Access to Synergy range of funds Increased allocation for clients investing 500+ per month at set up Flexible premium options Variable commission options Target market This product is suitable for clients who Are prepared to regularly invest for the long term (more than five years) Want the potential for long term capital growth Are prepared to risk getting back less than they put in Don t want regular withdrawals Want a range of investment options Have at least 175 a month to save Want to tailor their policy to meet their needs throughout their financial life cycle See Brokerzone.ie for support and ideas on client campaigns. Warning: If you invest in this product you may lose some or all of the money you invest. Adviser guide to Synergy Regular Invest 01/08

2 The basics Allocation rates before commission taken Premiums per month Gross allocation rate % % Minimum age of all lives assured at entry Advised Maximum age of all lives assured Minimum age of all policy owners at entry Maximum age of all policy owners Term 3 months 75 (new policy and top ups) (new policy and top ups) Open ended Occasional withdrawals Yes Minimum of 500 (after tax). Exit tax (currently 33%) is payable on growth. Minimum of 2,500 must remain in the policy Premium holidays (e.g. skip 2 months) Premium increases and/or reductions Yes Yes after 12 months with 1 month s notice Minimum increase or reduction of 85 a month Single premium top ups Yes Minimum 500. Financial adviser online policy details and values Death benefit Capital protection Risks Yes 101% of policy value No The risks of this product depend on your client s investment choice. For more information see the Key Features document (SYRIKF1), Fund Factsheets and Self Directed Options Guide (SYSDO1) 02/08 Adviser guide to Synergy Regular Invest

3 Minimum premiums Payment frequency Minimum premium Minimum top up Monthly Quarterly Half-yearly 1, Yearly 2,100 1,020 Single Premium Advised Maximum Premium If your client wants to invest 10,000 as a single premium or 20,000 p.a., consider investing in a Synergy Investment Bond or Synergy Portfolio Bond. Charges Life Assurance Premium Levy Plan charge (optional) Fund Switches 1%, deducted from the policy on the allocation date of each premium in the same proportion as investment choice, from Synergy funds and for Self- Directed Options, the Policy Cash Account. 0.04%-0.60%. Only applies if Funded Initial Commission taken. See Commission section. Free of charge for the first 12 per year. Subsequent switches 60 each. Early encashment charge Year 1 4% Year 2 4% Year 3 3% Year 4 2% Year 5 1% Where top ups are made the early encashment charge is applied on a first-in-first-out basis. They do not apply on death. Renewal Charge Investment charges A renewal charge applies where fund based renewal commission (FBRC) is chosen. See Commission section. See Investments section. Adviser guide to Synergy Regular Invest 03/08

4 Commission The level of commission chosen will affect the charges applied to your client s policy. Initial Commission Choose from the following 1. Regular Premiums choose either (a) or (b) (a) Funded Initial Commission (FIC) You can take commission between 0%-15% (whole % only) of first year s premiums. There is corresponding plan charge of 4bps for every 1% FIC taken. Commission is paid to you after the first premium is received. Commission Clawback applies on withdrawals or premium reduction or stop within five years of premium payment. Example of how this works for a premium of /mth: Funded Initial commission Plan charge pa (as a result of FIC) Allocation Throughout Term 0% 0% 101% 5% 0.20% 101% 10% 0.40% 101% (b) Premium Based Commission Commission is paid by a corresponding reduction in each premium allocation in year one. You can take commission between 0% and 15% (whole % only). Commission is paid to you at the same frequency as your client s premium. Example of how this works for a premium of /mth: Initial commission Allocation in year 1 Allocation in year % % 101% 5.00% 96.00% 101% 10.00% 91.00% 101% 2. Single Premium You can take up to 3% of the single premium as commission. For example: Initial commission Allocation 0.00% % 1.00% 99.00% 3.00% 97.00% Fund Based Renewal Commission (FBRC) You can take FBRC of up to 1% of the policy value. It s payable on each policy anniversary. FBRC can be taken in addition to commission options 1 or 2. 04/08 Adviser guide to Synergy Regular Invest

5 Investment Options Synergy Funds * At 3 August Fund Volatility Rating* Annual management charge Euro Global Liquidity 1 1% Corporate Bond 2 1% Euro Inflation Linked Bond 2 1% Fixed Interest 2 1% Property 3 1.2% Global Absolute Return Strategies % Standard Life Barclays Multi Asset Protected % Cautious Managed 3 1% Managed 5 1% Balanced Multi Manager % Japanese Equity Multi Manager 6 1.8% Japanese Equity 6 1% Global Equity Multi Manager 6 1.6% Global Selector 6 1% UK Equity 6 1% UK Equity Multi Manager % North American Equity Multi Manager 6 1.6% North American Equity 6 1% European Equity 6 1% European Equity Multi Manager % European Smaller Companies 6 1.5% European Ethical Equity 6 1.3% Global REIT % Irish Equity 7 1% Pacific Basin Equity 7 1% Pacific Basin Equity Multi Manager 7 1.8% India Equity 7 1.5% China Equity 7 1.5% Before your client chooses a fund they should read its latest fact sheet. They can find them on our website, Warning: The value of your investment may go down as well as up. Warning: This investment may be affected by changes in currency exchange rates. Adviser guide to Synergy Regular Invest 05/08

6 Volatility Ratings for Synergy funds The volatility rating of a fund indicates how much the fund price might move compared to other funds. The higher the volatility rating, the less stable the fund price is likely to be. Your client can use this to help decide how much risk they re comfortable taking with their investments. Less Volatile More Volatile We regularly review volatility ratings for funds, and these may change. We set ratings based on our experts judgement, using data on: how the fund price has varied from month to month in the past, compared to other funds available how investments in similar asset classes vary from month to month and the investment policy of the fund. Typically higher volatility ratings mean greater potential investment returns over the longer term. But high volatility funds can suddenly fall or rise in value. The volatility rating is not the only factor that your client should consider when selecting a fund. Self Directed Options ETFs through Stocktrade Policyholders can buy and sell any Exchange Traded Funds (ETFs) that are listed on a recognised stock exchange through Stocktrade, an execution only stockbroker. Stocktrade will deal and settle transactions for policyholders who wish to make their own investment decisions and do not require advice. Deposits Policyholders can instruct us to invest some of their policy in deposits. They simply tell us which deposit and provider on our panel they d like to link their policy to. Deposit account terms and conditions with each of the relevant providers apply. Policy Cash Account If a policyholder chooses a Self-Directed Option, a cash account will be set up within their policy to receive premiums and investment income. Any Standard Life charges, third party costs and fund based renewal commission related to the Self-Directed Options are also deducted from the policy cash account. Interest may be payable on any money held in a Policy cash account. The rate of interest will vary from time to time. For the rate of interest, please contact us. 06/08 Adviser guide to Synergy Regular Invest

7 Investment Charges Synergy funds The management charge for the Synergy funds is between 1% and 1.95% per annum, depending on which fund is chosen, and is deducted daily when calculating the fund price. Self Directed Options The charges set out in this section are to cover the costs incurred by Standard Life when a policyholder invests in a Self-Directed Option. Third party costs are additional. Investment Execution only stockbroking Deposits Policy Cash Account Management charge (deducted monthly) 1% per annum 1% per annum 1% per annum Third party costs Third party costs are in addition to the charges outlined above. Such costs include, for example, stockbroker s transaction cost for buying or selling ETFs. For more information, see the Self Directed Options Guide (SYSDO1). To ensure that all charges and costs can be met, a minimum balance must be kept within the policy cash account at all times. The information in this document is a summary only. For more information, please talk to your Standard Life Business Manager. These are our current product terms. They are subject to change. Adviser guide to Synergy Regular Invest 07/08

8 (01) Standard Life Assurance Limited is authorised and regulated by the Financial Services Authority in the UK and is regulated by the Central Bank of Ireland for conduct of business rules. Standard Life Assurance Limited is registered in Ireland (905495) at 90 St Stephen s Green, Dublin 2 and Scotland (SC286833) at Standard Life House 30 Lothian Road, Edinburgh EH1 2DH. Calls may be monitored and/or recorded to protect both you and us and help with our training. Call charges will vary SYRIAPS V Standard Life 08/08