Flexible Inheritor Plan
Flexible Inheritor Plan
The Flexible Inheritor Plan is a single premium unit-linked whole of life policy.
The FIP permits owners to access collective investment schemes and other UK compliant investments. It also allows the owner to appoint a Discretionary Manager, who must adhere to the investment restrictions.
The FIP is not surrenderable although regular withdrawals of capital are permitted.
Upon death of the life assured (or the second to die of the lives assured in the case of joint Policyholders), the policy pays the death benefit. The Death Benefit is equal to the GMSA.
Basic Features
| Investments | Collectives/UK Assets/Discretionary Managers |
| Withdrawals | Yes - No minimum defined. Part surrenders, subject to the bond maintaining the GMSA after payment of the part surrender |
| Death Benefit | Guaranteed Minimum Sum Assured applies |
| Surrender | The bond is not surrenderable |
| Assignments | Yes - individual segments or whole policy |
| Additional Charges | Investment Adviser - no max/min defined |
| Additonal notes | - |
| Segments | This product has a guaranteed minimum sum assured (GMSA) of the whole bond and therefor segment surrenders or assignments do not occur, only a withdrawal across all segments if the policy value is above the GMSA. |
| Charges | Charges will be deducted quarterly on policy anniversary based on the policy value. |
| Minimum Policy Value | Undefined |
| Policy Currency | GBP |
| Adviser assigned | Ongoing adviser charges deducted quarterly |
| No Advisors | Brokers / Self Advised only based on the data provided. |