Single Premium Variable Benefit Policy

Single Premium Variable Benefit Policy

The Single Premium Variable Benefit (SPVB) Bond is a single-premium whole of life bond. It is designed to qualify for United States tax purposes as a life insurance contract and meets the requirements of Section 7702 of the Internal Revenue Code 1986.

The bond allows the appointment of an Investment Adviser and Discretionary Managers, subject to acceptance. Premium will be invested in the permitted investments selected by the policyholder, the appointed adviser or by the appointed Investment Manager.

The value of the investments will dictate the value of the Bond. The bond should follow section 817h (Diversification of Assets) of the IRS code, which states:

• No more than 55 percent of the value of the total assets of the account is represented by any one investment;
• No more than 70 percent of the value of the total assets of the account is represented by any two investments;
• No more than 80 percent of the value of the total assets of the account is represented by any three investments; and
• No more than 90 percent of the value of the total assets of the account is represented by any four investments.

Basic Features