Simple Wealth is a unit-linked insurance policy that requires a minimum investment of $15,000 (£11,507, €12,868).
The key features and benefits of Simple Wealth include:
- Start investing with a single premium of $15,000;
- Make additional contributions at your own pace (minimum $1,500 monthly);
- Free enhanced death benefit for up to 15 years;
- Choice of diversified, actively managed and cost-effective selection of Zurich-managed funds;
- 100% of your premiums are invested;
- Access to your investment value from day one; and,
- No fixed term – whole of life policy.
The five Zurich managed funds are invested across asset classes, market sectors and geographies and are structured to suit five investor profiles: Defensive, Cautious, Blue Chip (Balanced), Performance and Adventurous.
Charges and fees
There is an establishment charge of 5% that is deducted over the first three years. During the first two years this results in a monthly charge of 0.17%, falling to 0.08% in the third year.
In addition, there is a monthy policy charge of $15 on policies of less than $60,000. There is no charge for policies above this amount.
The annual management charge is 1.5%.
Policyholders who fully surrender their policy during the first three years will incur a charge of 6.25% of the premium in the first month, falling gradually each month to zero by the end of the three-year period.
Demand for simple
Colum O’Brien, head of retail at Zurich – Middle East, said: “We are delighted to announce the launch of Simple Wealth, which has been carefully designed to cater for the growing demand for simplified investment products in the UAE market.
“Our own experience over the last 10 years in savings and investment products is that customers take comfort from the Zurich managed funds focus on risk management and the funds proven ability to build wealth over the long term.
“By introducing a new simplified investment plan to the UAE market Zurich – Middle East will continue to assist customers reach their financial goals over their lifetime.”
