A lump sum investment is where you make one off or single investment in a policy. Normally you can make additional lump sum investments to the same policy.
A regular premium policy is a policy that you invest in each month, quarter, half year or year.
Yes, you can withdraw money. However, an early encashment charge may apply. This may be up to 5% of your withdrawal. To make a withdrawal, complete this Instruction.
For policies taken out since 2001, the growth in your policy is subject to an exit tax (currently 41%). It's deducted from your policy every eight years and from any withdrawal, surrender or death claim.
If you are no longer an Irish resident for tax purposes when exit tax is due, then you may not have to pay it. You may be subject to the tax rules of the country you have moved to.
If the policyowner is a company, the exit tax is currently 25%
If you invested in an investment policy on your own, then we will pay 101% of the value of your policy to your estate.
If you invested in an investment policy jointly with someone else, for example your spouse and they are still living, the policy will continue until their death. We would then pay 101% of the value of the policy to your spouse's estate.
When an estate is divided out to beneficiaries, they may have to pay inheritance tax.
When you invest in a Self-Directed Option, a policy cash account will be set-up within your policy to facilitate your Self-Directed Options and from which payments are credited and deducted. The policy cash account is provided by a third party deposit provider. For further information, see your Key Features documents and the Self-Directed Options guide (SYSDO1). The variable interest rate payable on the policy cash account from 21 June 2023 is 3.45% gross (3.50% AER), and is subject to change at any time (it was 3.20% gross (3.25% AER) between 10 May 2023 and 20 June 2023). AER is the annual equivalent rate and shows what the interest rate would be if compounded and paid each year.