Planificación patrimonial
Plan de vida flexible
Cobertura de vida entera en régimen revisable, con una prima inicial más baja que el plan garantizado y una revisión formal de la prima y de la cobertura a intervalos establecidos.
Glendalough, Co. Wicklow · Superbass, CC BY-SA 4.0
Para quién es
Clientes que priorizan una prima de entrada más baja
Qué hace
- Prima inicial más baja que la de una cobertura garantizada
- Revisiones en el año 10 y después cada cinco años
- La cobertura o la prima pueden ajustarse en la revisión
- Convertible en condiciones garantizadas en la primera revisión
El producto en detalle
The Flexible Life Plan is whole of life cover priced on a reviewable basis. The initial premium is materially lower than the guaranteed plan because the insurer is not carrying the risk that the cost of cover rises over the decades; instead, that risk is examined at formal reviews — the first at year ten, then every five years.
At a review the plan is tested to see whether the premium being paid still supports the cover. If it does not, one of two things has to change: the premium rises, or the sum assured falls. Neither is a penalty and neither is discretionary — it is the arithmetic of the basis the client chose, and the honest way to present the product is to say at the outset that a review can go against them.
The plan is convertible to guaranteed terms at the first review, which is worth flagging to clients at the point of sale rather than in year ten. A client who takes reviewable cover to get started and converts at the first review has used the product as designed; one who assumed the premium was fixed has been mis-sold, whatever the paperwork said.
Documentación
La documentación de producto se facilita a los intermediarios acreditados. Pídala a su suscriptor o solicítela mediante el formulario de consulta.
- Documento de características principalesA petición
- Se explica la base de la revisiónA petición
Cómo funciona
Qué ocurre, en orden
Desde la primera consulta hasta el momento en que la cobertura, el contrato o la línea queda en vigor.
Cover is set up on a reviewable basis
Minimum sum assured £50,000, with an initial premium below the guaranteed equivalent.
Cover runs untouched to year ten
No review in the first decade.
The first review, at year ten
The plan is tested. The premium may need to rise, or the sum assured to fall — and the plan can be converted to guaranteed terms here.
Reviews every five years thereafter
On the same basis, for the life of the plan.
Las cifras
Un ejemplo resuelto
Cálculos ilustrativos, para que la forma del producto se vea en lugar de describirse. Nada de lo que aquí figura es una oferta ni una proyección.
The same £250,000 of cover, two bases
A life aged 55, on illustrative terms, showing what the reviewable basis saves at outset and what it may cost at the first review.
- Sum assured
- £250,000
- Guaranteed basis, monthly premiumAnd it never changes
- £310
- Reviewable basis, monthly premium at outset
- £196
- Saved in the first ten years
- £13,680
- Illustrative premium after the first reviewOr the sum assured falls instead
- £268
- Convertible to guaranteed terms
- At the first review
- Reviews thereafter
- Every 5 years
Illustrative and not a quotation. The reviewed premium depends on the plan’s position at the review and on the cost of cover at the time — it is not known at outset, and a client who needs it to be known should be looking at the guaranteed plan.
Premium over time, reviewable against guaranteed
The illustrative £250,000 of cover above, over twenty-five years.
Ver estas cifras en una tabla
| Guaranteed premium | Reviewable premium, illustrative path | |
|---|---|---|
| Year 1 | £310 | £196 |
| Año 10 | £310 | £196 |
| Year 15 | £310 | £268 |
| Year 20 | £310 | £268 |
| Year 25 | £310 | £340 |
Idoneidad
Dónde encaja Plan de vida flexible
Los casos que resuelve, los que no, y lo que un suscriptor necesita antes de tarificar.
Es la respuesta adecuada cuando
- A client who needs cover now and cannot fund the guaranteed premium.
- Someone who intends to convert to guaranteed terms at the first review.
- Cover requirements from £50,000.
Conviene mirar otra cosa cuando
- A client who needs to know the cost for life — that is the Whole of Life Plan.
- A client on a fixed income for whom a premium increase at year ten would be unaffordable.
Lo que necesitamos para tarificar
- 1.The lives assured, dates of birth and completed applications.
- 2.Medical underwriting.
- 3.Acknowledgement that the basis is reviewable and that a review can increase the premium or reduce the cover.
Preguntas
Lo que los corredores nos preguntan sobre este producto
What actually happens at a review?
The plan is tested to see whether the current premium still supports the cover. If it does not, the premium rises or the sum assured falls. The client chooses which, within the terms of the plan.
Can the plan be converted to guaranteed terms?
Yes, at the first review. It is worth telling the client this when the plan is sold, not when the review letter arrives.
Is the reviewable basis cheaper overall?
Not necessarily. It is cheaper for the first ten years by construction. Over a full lifetime it may cost more, and the chart above is drawn to make that possibility visible rather than to hide it.
Solicitar información
Consúltenos sobre Plan de vida flexible
El formulario llega a un suscriptor en Dublín. Si es intermediario, indíquelo y lo dirigiremos a la mesa de corredores.