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ACCESS SAVINGS PLANS

Charges

Allocation Rates & Fund Management Charge The allocation rate and fund management charge applicable will depend on a number of different factors. The illustrations below show example allocation rates and fund management charges, however yours may be different. Your financial advisor will provide further details on this for you.
Allocation Rates
(Regular Premiums)		 100%
Bid Offer No bid offer applies to your policy.
Policy Fee A policy fee of €4.50 per month applies to your policy.
Fund Management Charge A management charge applies to your policy. The value of this depends on the fund(s)
you have chosen.
Canada Life Quadrivium Fund 1.75% p.a. deducted from the unit price
Canada Life / Setanta Focus 15 1.75% p.a. deducted from the unit price
Canada Life / SEI MoM Opportunistic Fixed Income Fund 1.80% p.a. deducted from the unit price
Canada Life / SEI MoM Global Fixed Income Fund 1.80% p.a. deducted from the unit price
Canada Life / SEI MoM Global Balanced Fund 2.10% p.a. deducted from the unit price
Canada Life / SEI MoM Global Equity Fund 2.10% p.a. deducted from the unit price
Canada Life / SEI MoM UK Equity Fund 2.10% p.a. deducted from the unit price
Canada Life / SEI MoM European Equity Fund 2.10% p.a. deducted from the unit price
Canada Life / SEI MoM US Equity Fund 2.10% p.a. deducted from the unit price
Canada Life / SEI MoM Japanese Equity Fund 2.10% p.a. deducted from the unit price
Canada Life / Morgan Stanley European Property Fund 2.15% p.a. deducted from the unit price
Canada Life / SEI MoM Pacific Basin Equity Fund 2.30% p.a. deducted from the unit price
Canada Life / SEI MoM Emerging Markets Equity Fund 2.40% p.a. deducted from the unit price
All Other Funds 1.50% p.a. deducted from the unit price
Plan Management Charge A charge of 0.5% per annum applies to the Unitised With Profits Fund. A charge of 0.25% per annum applies to all other funds. This charge will be deducted monthly via unit cancellation.
Single Premiums Single Premiums can be added to your policy and will be allocated at a rate of 96.5%. The fund management charge and plan management charge applying to any additional single premium will be as outlined above for regular premiums. A bonus of 0.75% of the amount of your single premium investment will be added at the end of each year.
Switching

You may switch your units between funds at any time. The value of the units you purchase in the new fund will be based on the next bid value after we receive your instruction to switch.

The first 2 such switches each year are free. Thereafter we will charge for each
instruction received - this charge is currently €25.

You cannot choose to switch into the Unitised With Profits Fund during the life of your policy although you may switch out of it. See the Canada Life Guide to Investment Funds for details on this Fund.
Surrender Penalties No penalties are applied to encashments except when invested in the Unitised With Profits Fund (see the Canada Life Guide to Investment Funds for details).
Tax Tax will apply to any increase in the policy value over total contributions paid at certain points in time:
  • On death, on encashments or on assignments, or
  • On the 8th policy anniversary, and every 8 years thereafter; or if contributions are at or below EUR 3,000 p.a. at the 12th policy anniversary and every 12 years thereafter.
    This is currently the standard rate of tax + 3%. This is our understanding of the current tax rules, but tax rules can change subject to legislative change.