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Transcript
Investment Bond Option B Summary details This product summary insert is to be read in conjunction with Investment Bond from Aviva brochure and our Fund Guide, Your Investment Options. Investment Bond is a unit-linked product that allows you to invest a single contribution into a range of different funds. It is intended as a medium to long-term investment, offering the potential to benefit from growth in the stock, bond, property markets and other asset classes and strategies. Age at entry Annual fund management charge* Minimum: 19 next birthday Maximum: 76 next birthday Single contribution A single contribution is paid at the outset. The minimum single contribution is €25,000. We make a charge to cover the cost of managing your Investment Bond. On Investment Bond Option B, the annual fund charge is normally 0.75% per year. However, some funds require more management than others, so for these funds we apply an additional charge. These funds are detailed below, with the additional charge: Fund Additional fund charge The term of the policy is open-ended. Irish Property Fund 0.25% p.a. Death benefit UK Property Fund 0.25% p.a. Aviva Investors Multi-Strategy (AIMS) Target Income Fund (Ireland) 0.35% p.a. Aviva Investors Multi-Strategy (AIMS) Target Return Fund (Ireland) 0.35% p.a. Term Investment Bond automatically provides life cover; in the event of death 100.1% of the accumulated value of your investment at the date of notification of death is payable to your estate. The charges applicable to your policy How much will I be charged on my contribution? The amount of your contribution which is invested in your Investment Bond will depend on the allocation rate applied. This is the percentage of your money that is used to buy units in Investment Bond. For example, if the allocation rate is 99%, this means that for every €100 you invest, €99 is actually used to buy units. So in effect you pay €1 as a charge. Contribution amount Allocation rate Up to €74,999 101.5% €75,000 to €149,999 102% €150,000 plus 102.5% The above allocation rate amount may change depending on the commission you have agreed with your financial broker. New funds with different fund management charges may be added from time-to-time. * This charge is based on the value of the funds your policy is invested in. The annual fund charge is made up of: (1) a fund management charge which is deducted daily from the unit price of the fund(s) and (2) a unit charge which is taken monthly by deduction of units from the value of your fund(s). If you are invested in more than one fund, this charge will be taken proportionately across the range of funds in which the policy is invested. Where a fund invests in another fund(s), additional charges may apply. These charges may vary depending on the specific investments in each fund. Where these charges are applied, they are reflected in the unit price. As a result, the overall charge may be higher than shown in the product documentation. The annual fund management charge applying to your fund(s) will be shown on your policy schedule. Please see important warnings overleaf. Early encashment charge AIMS Target Income Fund (Ireland) If the policy is cashed-in within four years of the start date, an early encashment charge will apply. The charge will be a percentage of the accumulated value of your Investment Bond at the time of encashment, as outlined in the table below. The early encashment charge does not apply on death. Where your fund choice includes the AIMS Target Income Fund (Ireland), Supplementary Conditions will apply. The Aviva Investors Multi-Strategy (AIMS) Target Income Fund Key Features for Investment Bond customers contains important information on this fund. A copy of this document is available from your financial broker or you can download a copy on www.aviva.ie. Time since commencement Early encashment charge Less than 1 year 3% 1 to 2 years 3% 2 to 3 years 2% 3 to 4 years 1% 5 years plus 0% Fund switching charge There are no fund switch charges. Government levy Partial encashments of up to 7.5% of your single contribution (less the government levy) can be taken without an early encashment charge in any policy year on the condition that no regular income has been taken, or is scheduled to be taken, within that policy year. In accordance with the Stamp Duties Consolidation Act 1999 (as amended) a levy is payable on life assurance contributions (currently 1%). The balance will be invested in your Investment Bond. No early encashment charge applies to regular income payments. If a partial encashment has already been taken in a policy year, regular income cannot start until the subsequent policy year. When your fund choice includes the AIMS Target Income Fund (Ireland) and the income the fund generates means your regular withdrawal is higher than 7.5%, we will not charge an early encashment penalty. Retirement Investments Insurance Health Retirement Investments Insurance Health Investments Insurance WARNING: The value of Retirement your investment may go down as well as up. Health WARNING: If you invest in this product you may lose some or all of the money you invest. Retirement Investments Insurance Health WARNING: The income you get from this product may go down as well as up. Aviva Life & Pensions UK Limited, trading as Aviva Life & Pensions Ireland, is authorised by the Prudential Regulation Authority in the UK and is regulated by the Central Bank of Ireland for conduct of business rules. Aviva Life & Pensions UK Limited, trading as Aviva Life & Pensions Ireland, is also regulated in the UK: by the Prudential Regulation Authority for prudential rules and, to a limited extent, by the Financial Conduct Authority for applicable UK conduct rules. Registered Branch Office in Ireland (No 906464) at One Park Place, Hatch Street, Dublin 2. Tel (01) 898 7000 Web www.aviva.ie Registered in England (3253947) at Wellington Row, York, YO90 1WR. 1.420.07.16 WARNING: These funds may be affected by changes in currency exchange rates.