A good investment linked policy has the following features:
a) offers term insurance and critical illness coverage at guaranteed rates for fixed or decreasing coverage
b) allows savings to be invested in an equity or money market fund with an upfront charge of 2% or less
c) have an annual fund management fee of not more than 1% (for equity) or 0.5% (for money market fund)
d) have a fixed upfront fee and a monthly administration fee
This product to be explained in a brochure that can be downloaded from the website. The product is kept simple and is easy to understand. It can be bought over the counter or through the internet.
This policy allows the consumer to meet its protection and savings needs in an insurance policy that offers fair, competitive and transparent charges.
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