Zurich Vista - Unit Linked Regular Savings Plan
Zurich Vista is a flexible and efficient regular savings plan.
It can be very useful to accumulate and grow money for long-term financial goals like;
- Retirement Savings
- Saving for Children’s Education
- Accumulating capital for property investment
- Saving for Daughter’s marriage expenses
- Saving to start a business
- and many more financial goals…
Key Features and Benefits of Zurich Vista
1. Choice of Funds You can invest in up to 30 funds from a wide range of Zurich International Life's investment funds; suitable to the risk appetite of every investor. The wide variety of funds, offer efficient diversification into different;
- Geographies ( Countries, Regions and Economies)
- Asset Classes like Equity, Debt, Commodity, Real Estate, Money Market and Cash.
- Industries like Health Care, Financial Services, Telecommunication, Automotive, etc..
- Currencies (USD, EURO, GBP, Swiss Francs, Singapore Dollars, etc...)
Although investing in funds does involve a certain element of risk in the short term, the long-term returns always beat inflation by a good margin; hence it is wise to invest in such plans only for long-term goals.
If you are not comfortable choosing your an investment strategy on our own, you can appoint an investment adviser to provide investment advice, and manage your investment to help you achieve your financial goals.
2. Dollar Cost Averaging
The following video explains Dollar Cost Averaging in plain language;
3. Welcome Bonus During the first 12 months of your policy, Zurich will add a Welcome Bonus, depending on the term and amount you invest into the plan. The Bonus rates are as follows;
USD 2000 and above
The welcome bonus is calculated as follows; Regular premium amount multiplied by welcome bonus rate multiplied by the policy term. The maximum term applicable for a bonus calculation is 25 years. For Example: A 5-year policy with a premium of $2,000 a month would be calculated as follows: –
- Welcome bonus premium level = Gold
- Gold Bonus = 5 (years) x 2.5% = 12.5%
- Bonus = $2,000 x 12.5%= $250
- Total bonus and premium allocated in the first 12 months = $2,250 each month
- From the 13th month, the allocation rate returns to 100%, and so $2,000 will be allocated from month 13 to 60.
4. Ownership You can set up Zurich Vista by;
- Single ownership
- Joint ownership basis
- or as Trustees and companies
Companies or Trusts can invest in Zurich Vista, to put aside small sums of money on a regular basis instead of keeping it idle in a current account, for future diversification or expansion goals. A company can be own and pay a savings plan, for a partner or director, to help him save for his retirement.
5. Age at policy commencement date
• Policy owner: Minimum 18 years Maximum 74 years of age Whether you are just starting your career, at the peak of it or nearing retirement, Zurich Vista helps you achieve your investment needs.
• Life insured: Minimum two years (18 if any of the additional benefits are chosen) You can include, children or grandchildren as life(s) insured, to save for their education, marriage, seed money, etc...
Maximum 74 years of age (59 if the additional life cover benefit and/or the waiver of premium benefit are selected).
6. Policy term
- The minimum policy term is five years.
- The term must end before the life insured’s 80th birthday, or for joint life policies, the oldest life insured’s 80th birthday.
7. Policy currency • You can choose to invest in the following currencies: – USD – EUR – GBP – AED – BHD – QAR
8. Premium frequency • Regular premiums – Monthly, Quarterly, Half-yearly or Yearly. • Single premium only – at the start of the policy. • Additional single premiums – at any time.
9. Minimum premiums The following table shows you the minimum premium levels for different currencies.
10. Free Accidental death benefit Zurich offers a free accidental death benefit of USD 50,000 on Vista policies unto age 65 of the life insured. This benefit provides an amount payable if you die as a direct result of an accident (including drowning) and your policy value is less than the accidental death benefit amount.
11. Additional life cover benefit A person can avail unto six times of the annual premium at the time of start of the policy as additional life cover. The maximum additional life cover available on the policy is USD360,000 or AED/QAR1,300,000.
12. Unemployment holiday During the first 18 months of the policy, if you happen to lose your job, you can avail an unemployment holiday for 4 months, during which you will not have to pay the premiums, but the policy will still be live. The term of the policy will be extended by 4 months.
13. Increase or Decrease of Premiums You can Increase the premiums of you Zurich Vista Plan at any time, subject to a minimum increase of $30 per month.
Although Zurich Vista allows decrease of premiums at any time, it is not recommended to do so, because the charges on the plan continue to be charged on original premium
Understanding the risk factors
- Zurich Vista is ideal for long-term financial goals, and if surrendered early; you may get back less than you initially invested.
- As it is a Unit Linked Regular Savings Plan, Zurich Vista is inclined to market risks.
- Effective management of the investment strategy and expert guidance of an investment advisor add considerable mileage to the growth in fund values of the plan.
- One should not invest in such plans if he needs the money for short-term financial goals.
To know more about Zurich Vista Plan call me on 050-2285405 or arrange a free consultation.
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