Generali Worldwide is a wholly-owned subsidiary of the Generali Group. Founded on the strength of this international presence and wide-ranging expertise, Generali Worldwide specialises in offering life-insurance-based wealth management and employee benefit solutions to a global audience, including multi-national organisations, international expatriates and local resident populations in licensed territories.
The company’s head office is based in Guernsey, a premier international financial centre, and is a Registered Insurer under the Insurance Business (Bailiwick of Guernsey) law, 2002 (as amended). It is also an authorised insurer in the Bahamas, British Virgin Islands, Cayman Islands, Hong Kong, Jersey and Singapore.
Generali offers a range of individual unit-linked regular and single premium-based savings, retirement and investment plans and an open-architecture portfolio bond along with group retirement and savings products, group life and disability and healthcare products.
Vision is a regular savings plan that helps expats with a disciplined saving approach towards mid to long term financial goals whether that be education fee planning for the children or retirement planning for your financial future.
Technically speaking, Vision is a regular premium, unit-linked, whole of life, life assurance policy. It sounds a lot scarier than it is. These products offer an alternative savings vehicle to traditional bank accounts and investment policies. It offers a wide range of investment funds and relatively short initial periods (lock-in periods). As specialists in this marketplace, Generali Worldwide have good administrative and technological systems in place.
It offers a selection of around 200 investment options, from leading external fund managers and internally managed funds by Generali Worldwide, to match a wide variety of investment profiles. The Vision savings plan is a doorway for savers to access direct funds from some world-leading global fund houses.
You may select up to 10 different investment choices corresponding to underlying funds at outset into which your premiums may be invested, provided that the amount to be allocated in relation to each investment choice is above the minimum allocation requirement.
Policies are available in GB pound, US dollar, Hong Kong dollar, Japanese yen or Euro.
The minimum regular premiums for terms of more than 10 years are:
£200 Monthly, £600 Quarterly, £1,200 Half Yearly, £2,400 Annually (or currency equivalent.)
For plans with a premium payment term of less than 10 years, the minimum regular premiums are 2.5 times those above.
Plans are available on a single life or joint life basis. The maximum number of lives assured under a plan is therefore two.
Keep in touch with your investments 24/7 from wherever and with any device with online access.
Charges will vary according to the type of plan taken out from Generali as they offer different charging structures. However typically you will see the following;
Initial period: The Initial Period is determined by the Premium Payment Term of your Plan. It is the period during which Initial Units are allocated. Initial Units incur additional charges at commencement, and then throughout the term to cover the cost to set up the policy. After the initial period, accumulation units are purchased which are much cheaper in cost.
Additionally, there may be an adviser charge to manage the portfolio, this typically can be between 1 and 1.5% per annum depending on the chosen advisers charging structure and service provided.
If the Plan is fully surrendered, early discontinuance charges will be deducted from the Investment Value. The early discontinuance charge only applies on full surrender and only in relation to Investment Amounts for which less than 20 Charge Dates have passed since payment.
Partial surrenders are free of surrender charges and penalties. However, establishment charges and administration charges will continue to apply, where applicable, based on the Investment Amounts originally received irrespective of any partial surrenders or regular withdrawal payments previously taken.
If you want to learn more about the Generali Vision Savings Plan, or, discover how to get your investment savings plan to work, then fill out our contact form below.
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