Generali Worldwide Vision

Generali Worldwide Vision Plan for life generali-worldwide.com

2 of 6 Generali Worldwide Insurance Company Limited Vision Brochure Introduction VISION FOR A BRIGHTER FUTURE When you take the time to contemplate your future, what do you see? A comfortable and fulfilling retirement, your children enjoying the best education that money can buy or simply the satisfaction of knowing that your financial future is secure? Your hopes and aspirations will be unique to you. But, to make your dreams a reality, you need to focus on achievable ambitions and to structure your finances effectively. Only by doing so will the commitment made today produce the rewards you hope for. It is all too easy to get wrapped up in the challenges of your day-to-day life and not take charge of your future. But, the sooner you decide to take the initiative, the sooner your money will be working for you, and you can enjoy the satisfaction of being in control of your financial destiny. Your Financial Adviser can give you the guidance you need to make the most of your financial potential. WHAT IS VISION? Vision is a regular premium, whole-of-life, investmentlinked insurance scheme designed to help you meet your long-term financial objectives, which offers a range of features including: Selection from a wide range of investment options corresponding to some of the world s leading investment funds. Before choosing this product you must read and understand the Details Guide associated with this product, which covers the key features of the product for more detailed information, you should refer to the product Terms and Conditions (available on request). Please note that Vision is subject to Terms and Conditions and is subject to fees and charges. Products that include an investment element, by their very nature can involve a number of risks, which you should be aware of before choosing the Vision Plan. NOTE: To maximise Vision s potential you should be confident that you will be able to continue paying the level of regular premium that you choose at the outset, or any increased amount you choose, throughout the premium payment term. The return from your Plan relies on you paying all regular premiums due and, unless you pay the vast majority, if not all, of the regular premiums, your Plan is unlikely to be cost effective and you may suffer a loss. The Plan currency can be denominated in US Dollar, Pound Sterling, Euro, Hong Kong Dollar or Japanese Yen. Regular premiums can be paid on a monthly, quarterly, half-yearly or annual basis and lump sums can be paid at any time. Partial or full surrender. Loyalty bonuses rewarded for maintaining regular payments to your Plan over a minimum term of 10 years. Enhanced allocations for larger regular premium commitments. Security through Guernsey s policyholder protection regime.

3 of 6 Generali Worldwide Insurance Company Limited Vision Brochure Adapting to changes in your life Most of the important things in life do not come easily. A combination of planning, commitment and your Vision Plan may help you to meet your financial goals. A FOUNDATION FOR THE FUTURE Whatever you plan for your future, it is almost certain that you will need financial resources available at the right time to be able to achieve the things you want. But, you can t leave something as important as your financial future to chance. What you also need is a solution that will help turn your vision of the future into a reality. Vision from Generali Worldwide is an investment-linked insurance scheme that evolves to meet your changing needs throughout your life. ACCESSING YOUR MONEY Many investment plans require you to select, at the outset, the date at which you can enjoy the benefits of your investment returns. Vision is a whole-of-life, investment-linked insurance scheme, which allows you access to your Plan proceeds. With Vision you do not need to take all the money from your Plan in one go. Instead, if you need to make a partial surrender, you can do so without incurring additional charges**. You may also fully surrender your Plan at any time***. PREPARING FOR THE FUTURE Your circumstances are constantly changing and your financial plans need to adapt to these changing demands. There are so many events in life that will have a direct bearing on your saving priorities marriage, children, a new career path, moving house or imminent retirement are just some of the factors that will change your investment perspective. Vision can provide focus for some of the most important landmarks in your family s journey through life, including provision for your retirement and for your children s education. REASSESSING YOUR PREMIUMS When you first set up your Vision Plan, you can set your regular premiums at a level that gives your Plan the potential to meet your chosen objectives. But, your financial circumstances and priorities may change over time a promotion may enhance your ability to save or you may suddenly need to save more to pay for some future originally unplanned event. Vision allows you to alter your premium levels in tandem with changes in your circumstances*. * Details of regular premium increases, decreases and single premium top-ups, are detailed in the sections How do I pay my premiums? and What happens if I can t pay my regular premiums? in the Details Guide. ** Partial surrender is only available if your Plan has sufficient surrender value and, while there is no charge when taking a partial surrender, there will be no corresponding decrease in the administration fee so you should bear in mind that the administration fee will continue to apply based on the highest level of regular premium you have committed to pay, and will not be reduced proportionately to take account of any partial surrender or regular withdrawal payments. Likewise, any establishment charges will continue to apply based on the single premiums you paid, regardless of any partial surrender or regular withdrawal payments previously taken. Full details can be found in the section How can I access my money? in the Details Guide. *** Full surrender my incur charges including advance payment of administration fees. Full details can be found in the section How can I access my money? in the Details Guide. NOTE: To maximise Vision s potential you should pay your premiums for the entire premium payment term selected.

4 of 6 Generali Worldwide Insurance Company Limited Vision Brochure Choose growth potential Having the ability to choose from a wide range of investment options corresponding to some of the world s leading investment funds, gives you the ability to tailor your choices to suit your individual circumstances and attitude to risk. REAL GROWTH POTENTIAL Investments in stocks and shares have generally produced long-term returns that have both offset the negative impact of inflation and outperformed returns from traditional savings accounts*. That is not to say that savings accounts do not have a place in a balanced portfolio, but can you afford to ignore the possible benefits that the potential of exposure to stocks and shares might bring to your future security and prosperity? CHOOSE YOUR INVESTMENT APPROACH There are many factors that will influence your decision on how you choose to invest your money. Your Financial Adviser will take into account your own personal approach to risk and can help you decide on the most suitable approach and choices based on your personal circumstances and how and when you hope to enjoy the rewards of your investment. While some people are naturally more adventurous than others, and will choose investments that offer the potential of greater returns but a heightened degree of risk, other individuals will be more cautious and invest accordingly. * You should note that investment involves risk. Past performance is not indicative of future performance. Investors and/or their investment advisers are responsible for their investment decisions and any choice of investments options is entirely at their own risk. Please note that investment performance (as well as the income accruing to an investment) may go down as well as up. Please refer to the Vision Details Guide and Terms and Conditions for an explanation of certain risks in relation to investment in Vision. ** Please note that certain investment options are not authorised or regulated and/or are not available for offering to planholders in certain jurisdictions. These are appropriately marked in the Investment Options Brochure, which should be supplied to you by your Financial Adviser before you choose your investment options. ^ For further information on the SRRI, please refer to the Investment Options Brochure. A CLEAR GUIDE To help you select investment options that best fit with your approach to risk, Generali Worldwide produces a comprehensive guide on the investment options available, called the Investment Options Brochure **. The investment options available have been assigned a Synthetic Risk and Reward Indicator (SRRI)^ (a number from 1 to 7), which indicates the corresponding underlying fund s level of risk. This is an independent risk indicator provided by Morningstar Inc., a leading provider of independent investment research.

5 of 6 Generali Worldwide Insurance Company Limited Vision Brochure About Generali Worldwide CONFIDENCE THROUGH GLOBAL STRENGTH Generali Worldwide Insurance Company Limited is a wholly owned subsidiary of Assicurazioni Generali S.p.A. and, therefore, part of the Generali Group. For nearly two centuries, the Generali Group has been a leading global provider of insurance and financial services with a truly global presence, operating in more than 60 markets covering five continents. As one of the world s largest companies*, the Generali Group offers not only global expertise but also longstanding financial stability, reflected in the independent financial ratings that key agencies assign to the Generali Group**. * 2017 Fortune Global 500, based on 2016 revenues. ** For up-to-date information and key facts and figures, please refer to generali.com GUERNSEY A PREMIER FINANCIAL CENTRE Generali Worldwide s head office is based in Guernsey, a premier international financial centre, and it is a Licensed Insurer under the Insurance Business (Bailiwick of Guernsey) law, 2002 (as amended) that is regulated by the Guernsey Financial Services Commission (GFSC). Guernsey offers peace of mind through its policyholder protection regime that requires substantial segregation of planholder linked assets from the assets of the insurer. All planholders with Generali Worldwide benefit from Guernsey s policyholder protection regime under the licensing conditions imposed by the GFSC. This means that at least 90% of the assets that support all Generali Worldwide liabilities to planholders are held in trust with an independent third party trustee.

6 of 6 Generali Worldwide Insurance Company Limited Vision Brochure Your next steps IF YOU ARE READY TO PROCEED Before you choose a Vision Plan, you should first read and understand the Details Guide, which includes information to help you understand Vision and ensure that it is right for you. Your Financial Adviser should have taken you through the know your client process in order to understand your needs and advise you appropriately on your product choice. In addition, you will receive a personalised illustration document from your Financial Adviser. Your Financial Adviser will provide you with full details of the charges before you decide to purchase a Plan. An Application Booklet is also available from your Financial Adviser. You may also request a copy of the Terms and Conditions free of charge from us before you take out your Plan. WHAT HAPPENS NEXT? On commencement of your Plan, you will receive the Terms and Conditions and other important documents in relation to your Plan. You should read these documents carefully and keep them in a safe place. INFORMATION AT YOUR FINGERTIPS As soon as your Plan is in place you will be given details on how to register for our Online Service Centre which gives you instant, secure, 24/7 access to up-todate information on your Plan, including Plan details, Plan statements, how your Plan is performing and the ability to generate an historic valuation at Plan level, including all investment options and the total value, at a previous point in time. A WORD ON EXPECTATIONS Investment involves risk. You are responsible for your investment decisions and any investment option is chosen entirely at your own risk. The value of your Plan is not guaranteed and can go down as well as up. The return on your Plan is based on the collective financial performance of the underlying funds corresponding to your chosen investment options. The value of your Plan may also rise and fall purely on account of exchange rate fluctuations if any of the investment options are denominated in a currency other than that of your Plan. YOUR TAX RESPONSIBILITIES The tax consequences that apply to your Plan will depend on many factors including, your personal circumstances and the tax laws in your current (or future) country of residence and/or domicile. The fiscal rules, rate of taxation and/or revenue practice applicable to you can change. You are recommended to seek your own professional advice as regards your particular circumstances.

Generali Worldwide Vision Details Guide generali-worldwide.com

2 of 16 Generali Worldwide Insurance Company Limited Vision Details Guide WHAT IS VISION? Vision is a regular premium whole-of-life unit-linked insurance product, designed to help meet your long-term financial objectives. It is available to individuals aged at least 19 years old on their next birthday, companies or trustees on behalf of a trust. Up to two Planholders can own it jointly. At the Plan Commencement Date, your Plan is made up of 20 Policies; each worth 5% of the Investment Value. All Investment Options are divided equally between Policies. We allocate Premiums equally to all Policies. You can choose one of five Plan Currencies: US Dollar, Pound Sterling, Euro, Hong Kong Dollar and Japanese Yen. However, you cannot change this after the Plan Commencement Date. This Details Guide gives an overview of the main features of Vision so that you can decide if it is right for you. You will also receive a personalised illustration and a copy of our Investment Options Brochure. Together, these are the Offering Documents. You should read these documents carefully and if you have any questions, you should ask your Financial Adviser. The Offering Documents set out important information in relation to Vision but are not part of your contract of insurance. You can also request a copy of the Terms and Conditions which sets out the rules which will govern the Plan. We use defined terms (expressed in bold print) in this document. The Terms and Conditions sets out full definitions of these terms. Aims Vision allows you the opportunity to accumulate wealth through the payment of Regular Premiums over your chosen Premium Payment Term. You can also contribute optional Single Premiums. Vision allows you to select from a range of Investment Options to meet your specific needs and risk profile. The value of these Investment Options determines the value of your Plan benefits. Vision provides life insurance cover for you or others in whom you have an insurable interest. YOUR COMMITMENT You commit to paying Regular Premiums at your chosen level for the entire Premium Payment Term. You should view the Plan as a long-term commitment; Vision is not suitable as a short-term arrangement. You must supply us with any information we need in order to comply with any tax reporting, anti-money laundering and countering terrorist financing requirements. If your personal circumstances change, you will need to inform us within 30 days. RISKS The value of your Plan is linked to the performance of your chosen Investment Options, and is subject to investment risk and market fluctuation. The value of your Plan is not guaranteed and can go down as well as up. It may be significantly less than the Premiums you pay and may not be sufficient for your individual needs. Investment involves risk. You are responsible for your investment decisions and you choose any Investment Option entirely at your own risk. Where you hold Investment Options denominated in a currency other than the Plan Currency, you will be subject to foreign exchange risk.

Generali Worldwide Insurance Company Limited Vision Details Guide 3 of 16 You choose the level of your Regular Premium at the outset, and you should be confident that you will be able to pay this amount in full, or any increased amount you choose, throughout the Premium Payment Term. The return from your Plan relies on you paying all Regular Premiums due, and on receiving bonuses, including enhanced allocation and Loyalty Bonuses (if applicable) on Regular Premiums. Unless you pay the vast majority, if not all, of your Regular Premiums, your Plan is unlikely to be cost effective and you may suffer a loss. We calculate the administration fee based on the highest level of Regular Premium that you commit to pay. This means that if you increase the level of your Regular Premium payment, there will be a corresponding increase in the administration fee. However, if you reduce the level of your Regular Premium payment, there will be no corresponding reduction in the administration fee. If you fully surrender your Plan, or where it is terminated before the end of the Premium Payment Term, you will pay charges equal to the total administration fees that would have applied for the remainder of the Premium Payment Term, had the Plan remained in force. An early discontinuance charge will also apply if you surrender your Plan in full or your Plan is terminated during the first five years after we allocate a Single Premium to your Plan. This will not apply where you cancel during the Cooling-off Period or where we pay the Death Benefit. Fees and charges will continue to apply regardless of the performance of the Underlying Funds and while your Plan is in arrears or during a Premium Holiday. PLANHOLDER PROTECTION Planholders with Generali Worldwide benefit from Guernsey s policyholder protection regime under the licensing conditions imposed by the Guernsey Financial Services Commission under the Insurance Business (Bailiwick of Guernsey) Law, 2002 (as amended). WHAT ARE THE BENEFITS? Life Cover You can name up to two Lives Assured on your Plan. You can set up your Plan on a single life or joint-life basis with the Death Benefit payable on either the first or the last death; which we call the Relevant Death. The Lives Assured named on your Plan must be at least 18 years old and one of them must be no more than 74 years old at the Plan Commencement Date. The upper age limit applies to the oldest Life Assured where we pay the Death Benefit on the first death and the youngest Life Assured where we pay the Death Benefit on the last death. You can nominate Beneficiaries to receive the Death Benefit. We will pay a Standard Death Benefit of 101% of the Investment Value on the Relevant Death. You can also choose an optional Additional Death Benefit, which is subject to our discretion and may be up to 40 times the Annualised Regular Premium. Loyalty Bonus Your Plan will qualify for a Loyalty Bonus if it has a Premium Payment Term of at least ten years. We will pay the bonus at the tenth Plan Anniversary and at every fifth Plan Anniversary after that during the Premium Payment Term, up to and including the thirtieth Plan Anniversary. On each Bonus Date, we add a bonus to the Plan equal to 5% of all Regular Premiums you paid during the period since the previous Bonus Date. Enhanced Allocations You benefit from an enhanced allocation rate on your Regular Premiums of between 101% and 106% as set out in Table 6 - Allocation Percentages by Annualised Regular Premium level for a Premium Payment Term of less than 10 years and Table 7 - Allocation Percentages by Annualised Regular Premium level for a Premium Payment Term of 10 years or more.

4 of 16 Generali Worldwide Insurance Company Limited Vision Details Guide HOW DO I PAY PREMIUMS? You choose a Premium Payment Term, a Regular Premium amount and a payment frequency. You commit to pay Regular Premiums at that level for the entire Premium Payment Term. You can request to increase the level of your Regular Premiums after your Plan is in force, and you will commit to pay this increase for the remaining Premium Payment Term. You can choose to pay Regular Premiums on a monthly, quarterly, half-yearly or annual basis. You can also pay Continuation Premiums after the Premium Payment Term. You should pay Premiums in your Plan Currency. If you pay a Premium in any other currency, you will incur a foreign exchange cost in converting the Premium. The Premium Payment Term must be at least five years and cannot extend beyond the seventy-fifth birthday of the youngest Life Assured. The minimum Regular Premium varies by payment frequency, Premium Payment Term and Plan Currency as shown in Table 1 and Table 2: Table 1 - Minimum Regular Premiums for a Premium Payment Term of less than 10 years Currency Monthly Quarterly Half-Yearly Annually USD 750 2,250 4,500 9,000 GBP 500 1,500 3,000 6,000 EUR 675 2,025 4,050 8,100 HKD 6,250 18,750 37,500 75,000 JPY 100,000 300,000 600,000 1,200,000 Table 2 - Minimum Regular Premiums for a Premium Payment Term of 10 years or more Currency Monthly Quarterly Half-Yearly Annually USD 300 900 1,800 3,600 GBP 200 600 1,200 2,400 EUR 270 810 1,620 3,240 HKD 2,500 7,500 15,000 30,000 JPY 40,000 120,000 240,000 480,000 You can pay optional Single Premiums at any time. The minimum Single Premium varies by Plan Currency and is as follows: Table 3 - Minimum Single Premium Currency Minimum Single Premium USD 2,000 GBP 1,334 EUR 1,800 HKD 16,660 JPY 266,660

Generali Worldwide Insurance Company Limited Vision Details Guide 5 of 16 HOW ARE MY PREMIUMS ALLOCATED? Initial Period An Initial Period applies to your original Regular Premium and to each Regular Premium increase. During the Initial Period after the Plan Commencement Date, we allocate the first 100% of your Regular Premium allocation as Initial Units. We will allocate any enhanced allocation over 100% as Accumulation Units. During the Initial Period after a Regular Premium increase, we will allocate 100% of the increased amount as Initial Units with any enhanced allocation again allocated as Accumulation Units. Outside of Initial Periods, we allocate Regular Premiums entirely as Accumulation Units. We cancel Initial Units to pay the administration fees due and will cancel all Initial Units by the end of the Premium Payment Term. We do not include Initial Units in the calculation of the Surrender Value and they will only have a value to you if we pay the Death Benefit. Figure 1 - Illustration of difference between the Surrender Value and Investment Value Investment Value Surrender Value Premium Payment Term Initial Period For illustration only The Initial Period is calculated based on the length of your Premium Payment Term. Table 4 - Initial Period for Plans with a Premium Payment Term (at Plan Commencement Date) of less than 10 years Premium Payment Term (original or remaining) in Years Months Premium Payment Term (original or remaining) in Years Months 1 0.330 6 6.390 2 0.990 7 8.070 3 1.980 8 9.990 4 3.330 9 12.150 5 4.950 - -

6 of 16 Generali Worldwide Insurance Company Limited Vision Details Guide Table 5 - Initial Period for Plans with a Premium Payment Term (at Plan Commencement Date) of 10 years or more Premium Payment Term (original or remaining) in Years Premium Payment Term (original or remaining) in Years Premium Payment Term (original or remaining) in Years Months Months Months 1 0.240 11 13.596 21 19.536 2 0.720 12 14.028 22 20.328 3 1.440 13 14.496 23 21.156 4 2.400 14 15.000 24 22.020 5 3.600 15 15.540 25 22.920 6 5.040 16 16.116 26 23.856 7 6.720 17 16.728 27 24.828 8 8.640 18 17.376 28 25.836 9 10.800 19 18.060 29 26.880 10 13.200 20 18.780 30 or more 27.960 If you increase your Regular Premium, the Initial Period for that increase is based on the remainder of the Premium Payment Term rounded up to the next full year. Regular Premium Allocation Rates When you pay your Regular Premiums, we will deduct the Plan fee, and then allocate the balance to your chosen Investment Options using an allocation rate, which is calculated based on your chosen Premium Payment Term and your Annualised Regular Premium amount. Table 6 - Allocation Percentages by Annualised Regular Premium level for a Premium Payment Term of less than 10 years Premium Band (Annualised Regular Premium) Percentage USD GBP EUR HKD JPY 102% 9,000 9,999 6,000 6,666 8,100 8,999 74,970 83,299 1,199,970 1,333,299 103% 10,000 14,999 6,667 9,999 9,000 13,499 83,300 124,949 1,333,300 1,999,949 104% 15,000 23,999 10,000 15,999 13,500 21,599 124,950 199,919 1,999,950 3,199,919 105% 24,000 59,999 16,000 39,999 21,600 53,999 199,920 499,799 3,199,920 7,999,799 106% 60,000 + 40,000 + 54,000 + 499,800 + 7,999,800 +

Generali Worldwide Insurance Company Limited Vision Details Guide 7 of 16 Table 7 - Allocation Percentages by Annualised Regular Premium level for a Premium Payment Term of 10 years or more Premium Band (Annualised Regular Premium) Percentage USD GBP EUR HKD JPY 101% 3,600 5,399 2,400 3,599 3,240 4,859 29,988 44,981 479,988 719,981 102% 5,400 7,199 3,600 4,799 4,860 6,479 44,982 59,975 719,982 959,975 103% 7,200 9,999 4,800 6,666 6,480 8,999 59,976 83,299 959,976 1,333,299 104% 10,000 14,999 6,667 9,999 9,000 13,499 83,300 124,949 1,333,300 1,999,949 105% 15,000 59,999 10,000 39,999 13,500 53,999 124,950 499,799 1,999,950 7,999,799 106% 60,000 + 40,000 + 54,000 + 499,800 + 7,999,800 + Single Premium and Continuation Premium Allocation Rates We allocate Single Premiums as Accumulation Units at a rate of 100%. Where you pay a Continuation Premium after the Premium Payment Term, we will allocate this as Accumulation Units at a rate of 100% after we deduct the Plan fee. WHAT ARE THE INVESTMENT OPTIONS? Your Plan is made up of Sub-Fund Units of Investment Options chosen by you. We use Sub-Fund Units to calculate the Investment Value of your Plan, the benefits of your Plan and for the deduction of fees and charges from your Plan. Each Investment Option has a corresponding Underlying Fund. We will buy or sell Units in the Underlying Funds to cover our liability to you under the Plan but you will not have any rights whatsoever to these Underlying Funds. How Can I find More Information about the Investment Options? You will find a brief description of each Investment Option available in our Investment Options Brochure. You should also read the fund prospectus or other offering document of the Underlying Fund corresponding to any Investment Option you consider selecting. Your Financial Adviser will be able to provide you with these or you can ask us for copies. The Investment Options can have very different features and risk profiles. Some Investment Options available are high risk. You should satisfy yourself that your chosen Investment Options are suitable for you. Generali Worldwide do not provide investment advice. You should seek professional advice from a suitably qualified and regulated adviser. Can I Change the Investment Options? You can switch some or all of the Investment Options held within your Plan and/or redirect your future Premiums to different Investment Options. You can choose your new Investment Options from the list in our most recent Investment Options Brochure at the time of the switch or redirection. You can hold up to 20 Investment Options in your Plan. However, only 10 Investment Options can receive Premiums at any one time. You will incur the cost of a Bid / Offer Spread on the new Investment Option for each switch. Suspension of Pricing The Fund Manager may suspend the calculation of the prices of Units in an Underlying Fund or an Underlying Fund may become illiquid. When this happens, we will be unable to purchase or sell Units of the Underlying Fund or to realise their proceeds. This means that you will not be able to switch or redirect Sub-Fund Units of the corresponding Investment Option and we will not be able to pay any claim for a benefit related to the relevant Investment Option. In these circumstances, we may also suspend the calculation of prices for Sub-Fund Units or we may use later prices, which means that we will not be able to provide an accurate valuation of your Plan.

8 of 16 Generali Worldwide Insurance Company Limited Vision Details Guide WHAT ARE THE CHARGES? In this section, we set out a brief description of the charges that will apply to your Plan. You will find a full description of how each of these charges is calculated and applied in the Terms and Conditions. You should read these descriptions carefully and ask your Financial Adviser if you have any questions. Administration fee: We take the administration fee on each Plan Anniversary during the Premium Payment Term (or for 30 years if the Premium Payment Term is longer). We calculate it as a percentage of the total Regular Premiums you commit to pay from the Plan Commencement Date to the relevant Plan Anniversary, including any Regular Premium increases. We deduct the administration fee by cancelling Initial Units. We calculate the number of Initial Units to cancel by dividing the administration fee due by the average Offer Price at which we created Initial Units in the Initial Period. We recalculate this average Offer Price each time we apply an administration fee to take account of fees already paid, dividends added, switches and Initial Unit cancellations. Initial Units will fluctuate in value in line with the performance of your selected Investment Options, which means that the monetary value of the administration fee we deduct will not be equal to the relevant percentage of Regular Premiums. Even if you reduce your Regular Premium amount, take a partial surrender or regular withdrawal or stop paying Regular Premiums, the administration fee will continue to apply based on the highest level of Regular Premium you have previously committed to pay. To calculate the administration fee, we will add up all of the Regular Premium payments you were due to pay up to the date the fee is applied, and apply the appropriate rate. This means that the fee will increase on each Plan Anniversary. Where we calculate the administration fee after you increase your Regular Premium, we will assume that the Regular Premium increase dates from the beginning of the Plan Year in which it occurs. The administration fee rate used depends on your Premium Payment Term. Table 8 - Rate of Administration Fee Premium Payment Term (selected at Plan Commencement Date) up to and including 5th Plan Anniversary from 6th Plan Anniversary to 10th Plan Anniversary (if applicable) from 11th Plan Anniversary (if applicable) less than 10 years 2.75% 2.00% - 10 years or more 2.00% 2.00% 0.3% Where you increase your Regular Premium, the Plan Anniversaries in the table above are the anniversaries at the beginning of the Plan Year in which the increase occurs. For example, in the absence of a Regular Premium increase, this means that the total administration fee payable on a monthly Regular Premium of USD1,000 committed for a five-year Premium Payment Term will be calculated as follows:

Generali Worldwide Insurance Company Limited Vision Details Guide 9 of 16 Table 9 - Administration Fee Example End of Plan Year Administration Fee Rate Cumulative Regular Premiums Due Administration Fee 1 2.75% USD12,000 USD330 2 2.75% USD24,000 USD660 3 2.75% USD36,000 USD990 4 2.75% USD48,000 USD1,320 5 2.75% USD60,000 USD1,650 Total USD60,000 USD4,950 = 4.95 months contributions out of 60 (see Table 4) Investment administration fee: We take an investment administration charge of 1.5% of the total Sub-Fund Units annually while your Plan is in force. We calculate the charge as a percentage of both Initial Units and Accumulation Units held within your Plan, but we deduct it from Accumulation Units only. Plan fee: We take a Plan fee from each Regular Premium or Continuation Premium you pay, which varies by the frequency you pay these Premiums and by Plan Currency. Table - 10 Plan Fees (Based on Plan Currency) Premium Payment Frequency USD GBP EUR HKD JPY Monthly 4.50 3.00 4.05 37.50 600.00 Quarterly 12.00 8.00 10.80 100.00 1,600.00 Half-Yearly 24.00 16.00 21.60 200.00 3,200.00 Annually 45.00 30.00 40.50 375.00 6,000.00 Charges on Single Premiums Establishment charge: An annual establishment charge of 1.5% applies to each Single Premium you pay. We deduct it annually over the first five or six Plan Anniversaries after you pay each Single Premium (totalling 7.5% over the period during which the charge applies). Early discontinuance charge: We will take an early discontinuance charge if you surrender your Plan in full, or we terminate your Plan (except during the Cooling-off Period or a claim for Death Benefit), during the first five years after you pay a Single Premium. It will equal the remaining establishment charges you would otherwise have paid had your Plan remained in force. Third-party Charges (Optional) We can facilitate the payment of third-party charges where you wish to appoint a third party to supply services in relation to your Plan (for example a trustee fee where the Plan is held in trust). Underlying Fund Charges Underlying Funds will have separate charges. We do not take these charges directly but they will be reflected in the value of Sub-Fund Units.

10 of 16 Generali Worldwide Insurance Company Limited Vision Details Guide Table 11 - Underlying Fund Charges Charge External Funds Internal Funds Bid / Offer spread 0% to 2% of the offer price of the Underlying Fund. 0% to 1% of the offer price of the Underlying Fund. Annual management charge 0.5% to 3% per annum of the net asset value of the Underlying Fund. Advisory service fees of up to 0.75% per annum. Fund overheads also apply. Other fees and charges Please refer to the prospectus and/or offering documents of the Underlying Fund. Mortality charge: Where you have chosen the Additional Death Benefit option, we will take a mortality charge monthly in advance, which we will calculate based on the age, sex and health of each Life Assured and on whether you have set up your Plan on a single life or joint-life basis. The mortality charge will reflect the combined risk of death for the Lives Assured. Foreign exchange: We will carry out all foreign exchange transactions or conversions required within the Plan using a commercial rate of exchange on the relevant processing date, to which we will add a margin of up to 1%, depending on the currency pair in question. HOW CAN I ACCESS MY MONEY? Full Surrender You can surrender your Plan in full at any time. If you surrender your Plan in full before the end of the Premium Payment Term, you will lose all of the Initial Units which have been set aside to pay the administration fee. You will also have to pay early discontinuance charges if you surrender your Plan in full within five years of paying a Single Premium. Any accrued charges and a pro-rata investment administration charge are also deducted. This means that the Surrender Value of your Plan may be significantly less than the Investment Value. Partial Surrender / Regular Withdrawal You can request a partial surrender or set up regular withdrawals from your Plan. You can schedule regular withdrawals monthly, quarterly, half-yearly or annually. The minimum partial surrender payment is USD750 / GBP500 / EUR675 / HKD6,250 / JPY100,000 and the minimum regular withdrawal payment is USD75 / GBP50 / EUR68 / HKD625 / JPY10,000. You can only take a partial surrender or regular withdrawal if there is sufficient Surrender Value in your Plan and the payment will not result in the Surrender Value of your Plan falling below USD1,500 / GBP1,000 / EUR1,350 / HKD12,495 / JPY200,000. You can also structure a partial surrender as the full surrender of one or more Policies within your Plan. When requesting a partial surrender or regular withdrawal, you should bear in mind that the administration fee will continue to apply based on the highest level of Regular Premium you have committed to pay, and will not be reduced proportionately to take account of any partial surrender or regular withdrawal payments. Likewise, any establishment charges will continue to apply based on the Single Premiums you paid, regardless of any partial surrender or regular withdrawal payments previously taken.

Generali Worldwide Insurance Company Limited Vision Details Guide 11 of 16 WHAT HAPPENS IF I CAN T PAY MY REGULAR PREMIUMS? You should choose your Premium Payment Term and Regular Premium amount very carefully. Unless you pay the vast majority, if not all, of the Regular Premiums, your Plan is unlikely to be cost effective and you may suffer a loss. However, if you encounter any unavoidable difficulties, you can avail of the following options. Reducing Regular Premiums Once you have completed the Initial Period, you have the option to reduce the amount of your Regular Premium. However, this will not result in a reduction in the administration fees due as these will continue to be based on the highest level of Regular Premium you have committed to pay for the duration of the Premium Payment Term. Where you decrease your Regular Premium, the Additional Death Benefit, if applicable, will not reduce unless a Written Request is received asking for a reduction. Premium Holiday Subject to our agreement, you can choose to stop paying Regular Premiums for a limited period during the Premium Payment Term; this is known as a Premium Holiday. This is subject to conditions set out in your Terms and Conditions. WHAT ABOUT TAX? The tax consequences that may apply to your Plan will depend on many factors including your personal circumstances and the tax laws of your country of residence and/or domicile. The fiscal rules, rate of taxation and/or revenue practice, which applies to you, can change. You should seek professional advice as regards your particular circumstances before taking out a Plan and while your Plan is in force. Guernsey participates in a number of tax-related exchange of information agreements, such as the U.S. Foreign Account Tax Compliance Act ( FATCA ) and the Common Reporting Standard ( CRS ). As a result, we are required to cooperate by holding, collecting and processing information about our customers and sharing this information with domestic and international tax authorities. This means that we may have to report information regarding your Plan to the relevant local or overseas authorities. You will be required to provide us with any documents or information we need to comply with these obligations, including your tax identification number. In certain circumstances, we may have to impose withholding tax on payments to or from your Plan. HOW WILL MY PLAN COME TO AN END? Your Plan will come to an end in one of the following scenarios: when you surrender the Plan in full, whether during or after the Premium Payment Term, in which case we will pay the Surrender Value; upon the Relevant Death, in which case we will pay the Death Benefit; if you cancel your Plan during the Cooling-off Period; or if you stop paying Regular Premiums and the Investment Value becomes insufficient to cover the ongoing fees and charges as they fall due or if the indicative Surrender Value falls below USD150 / GBP100 / EUR135 / HKD1,250 / JPY20,000. Your Plan may come to an end at our discretion if Regular Premium payments have ceased and the indicative Surrender Value falls below USD1,500 / GBP1,000 / EUR1,350 / HKD12,495 / JPY200,000 for any reason.

12 of 16 Generali Worldwide Insurance Company Limited Vision Details Guide WHAT IF I CHANGE MY MIND? If you are not satisfied with your Plan, you have the right to cancel it during the Cooling-off Period, which is 30 days from the Plan Commencement Date. If you avail of this option, you will receive the lower of the Premiums paid or the Investment Value of your Plan, less the cost of making this payment. WHAT ARE THE NEXT STEPS? When you have read the Offering Documents and are satisfied that Vision is for you, your Financial Adviser will guide you through the application process. You will need to complete an Application Booklet. Your Financial Adviser will be able to advise what supporting documentation is required to accompany your application. You will select the Premium Payment Term and level of Regular Premiums. You will also choose your Plan Currency. When your application is accepted, we will issue the Terms and Conditions and other important information to your Financial Adviser for delivery to you. This will include details of how to avail of your cancellation rights and how to register for access to our Online Service Centre. If you propose to take out a Plan in complete or partial replacement of a similar existing life insurance contract, this may be disadvantageous to you. Please make sure that you are aware of the financial consequences of such an action, which can be explained by your Financial Adviser. This will help you ensure that Vision meets your needs. WHERE CAN I FIND OUT MORE? Other Documents You can view information about Generali Worldwide and the products we offer on www.generali-worldwide.com. The Terms and Conditions set out the rules that will govern the Plan. Your Financial Adviser will provide you with a copy or you can request a copy from us, free of charge. Further information in relation to the Underlying Funds corresponding to your selected Investment Options is available from the Fund Manager, your Financial Adviser or on request, from us. Financial Adviser Generali Worldwide does not provide financial advice. Your Financial Adviser can provide you with further information on our products and help you assess their suitability for you. Your Financial Adviser is independent from us and from the Generali Group. Your Financial Adviser acts on your behalf in relation to your Plan and is not our agent.

Generali Worldwide Insurance Company Limited Vision Details Guide 13 of 16 COMPANY DETAILS / HOW TO CONTACT US You can contact us using the details on the back cover of this document. Complaints If you wish to make a complaint about any aspect of your Plan, we have a Complaints Team that are dedicated to assist you. Details of our Customer Complaints Procedure is available on-line at www.generali-worldwide.com/complaints/ or we can supply a copy to you on request. If you are not satisfied with our final response to your complaint, eligible complainants can refer their complaint to the Channel Islands Financial Ombudsman ( CIFO ). You can contact the CIFO at: Channel Islands Financial Ombudsman PO Box 114 Jersey Channel Islands, JE4 9QG E-mail: enquiries@ci-fo.org Website: www.ci-fo.org Phone: +44 1481 722218 You can find further details of the ombudsman scheme and whether you are an eligible complainant on the CIFO website. Online Service Centre You can have immediate and secure access to your Plan information through our Online Service Centre. This allows you to view up-to-date valuations of your Plan. You can also submit certain instructions through the Online Service Centre. We will send you details of how to register for this free service at Plan commencement or you can ask us for details at any time. Regulator Generali Worldwide Insurance Company Limited is principally regulated in Guernsey as a licensed insurer by the Guernsey Financial Services Commission ( GFSC ) under the Insurance Business (Bailiwick of Guernsey) Law, 2002 (as amended). The address of the GFSC is: Guernsey Financial Services Commission PO Box 128, Glategny Court Glategny Esplanade, St Peter Port Guernsey Channel Islands GY1 3HQ. Governing Law The governing law of your Plan is the law of the Island of Guernsey.

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Registered Head Office address: Generali Worldwide Insurance Company Limited, Generali House, Hirzel Street, St Peter Port, Guernsey, Channel Islands GY1 4PA Incorporated in Guernsey under Company Registration No. 27151. T +44 (0) 1481 714 108 F +44 (0) 1481 712 424 enquiries@generali-worldwide.com generali-worldwide.com Regulated in Guernsey as a licensed insurer by the Guernsey Financial Services Commission under the Insurance Business (Bailiwick of Guernsey) Law, 2002 (as amended). Generali Worldwide Insurance Company Limited is part of the Generali Group, listed in the Italian Insurance Group Register under number 026. Websites may make reference to products that are not authorised or regulated and/or are not available for offering to planholders in certain jurisdictions.