General Information |
Name of Wrapper
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Amulet Personal Pension Plan (Back End)
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Product Overview
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The Amulet Personal Pension Plan is a unitised endowment plan with a wide range of benefits designed to make retirement provision for the employed.
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Unit Link Fund
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Up to 13 Life funds are available through this product subject to holding a maximum of 10 at any one time
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Availability
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Closed to New Business June 1998
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Contract Currency
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Sterling, US Dollars, DEM (now Euro), Japanese Yen.
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Life Basis
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Available on a single-life basis only
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Minimum Age at Entry
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19 next birthday
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Maximum Age at Entry
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72 next birthday, at outset of the plan
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Segmentation
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Up to 95 policies per contract subject to policy conditions
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Optional Benefits Available
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Life Cover, Waiver of contribution, Critical Illness Benefit, Guaranteed Insurability Option, Contribution Holidays, Indexation of Sum Assured and/or Premium,
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Benefit Charges
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Benefits elected will carry additional charges which are largely taken by way of unit deduction.
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Wrapper Surrender Charges
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The bid value of the units held on the pricing day following receipt of the appropriate instruction less the commuted value of the maintenance charge for the remaining term of the contract (regular premium only)
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Early Surrender
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Available subject to the policy terms and conditions
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Top Ups
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Available
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Regular/Once off Withdrawals
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Available subject to the policy terms and conditions
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Fund Switching
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Fund switching between the life funds accessible via this product.
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Valuations
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Valuations are automatically produced on the anniversary of the contract. Valuations required at other times are available upon request
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Pricing & Dealing |
Investment Date
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Bank clearance date of premium received
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Maturity Date / Vesting Date / Premium Cessation date / Normal Retirement Date
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The Normal Retirement Age (NRA) must be a birthday of the Life Assured. The maximum Normal Retirement Age is 75, and there is a minimum term of 3 years and 1 day to NRA.
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Initial Charge
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7% bid offer spread
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Allocation
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Reduced allocation of regular premiums depending on premium and term
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Admin Fee
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£5.12/$8.45/EUR7.17 taken monthly by way of unit deduction
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Charging Structure
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Back end charging structure involving slightly reduced premium allocation
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Switching Charge
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Fund switching is currently free of charge
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Withdrawal Charge
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May apply subject to the policy terms and conditions
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Death Benefit
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The greater of the Sum Assured, if any, or the bid price value of the units held
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Minimum Single Premium
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£5000 or currency equivalent
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Minimum Top Up Investment
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£5000 or currency equivalent
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Minimum Regular Premium Investment
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£750 per annum or currency equivalent
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Frequency of Regular Premium Payment
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Monthly, Quarterly, Half yearly, Annually
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Premium Payment Methods
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Cheque, Standing order, Direct Debit (UK clearing banks only) Credit card
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Administration |
Product Provider
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LCL International Life Assurance Company Ltd
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Contact Address
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LCL International Life Assurance Company Ltd, PO Box 391, St Georges Court, Upper Church Street, Douglas , Isle of Man IM99 2XW
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Contact Tel No
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+44 1624 683683
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Contact Fax No
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+44 1624 683684
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Product Code
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PB1, PB2
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