Investments
Delta Account
A simpler bond limited to our insured fund range, with a lower entry point and a single annual management charge rather than a portfolio of custody costs.
Trinity College, Dublin · Diliff, CC BY-SA 4.0
Who it is for
Broker-introduced clients investing from £20,000
What it does
- Access to the insured life fund range only — no custody or dealing costs
- One annual management charge per fund
- Switching between funds at no charge
- Regular withdrawal facility, monthly to annually
The product in full
The Delta Account is deliberately narrower than the Premiere range. It holds our insured fund range and nothing else — no direct equities, no structured notes, no external custody. That constraint is what makes it cheap: with no dealing, no settlement and no custody to pay for, the contract carries one annual management charge per fund and nothing underneath it.
For a £20,000 to £100,000 portfolio, that is usually the right answer. Open architecture is worth paying for when the portfolio is large enough that access to specific assets changes the outcome; below that, the fixed costs of custody eat the benefit, and a client is better served by a fund range and no friction.
Switching is free and unlimited, which sounds like a small feature and is not. A client whose objectives change can move between funds without a charge and without leaving the wrapper, so the decision to change strategy is never distorted by the cost of making it.
Literature
Product literature is issued to appointed intermediaries. Ask your underwriter, or request it through the enquiry form.
- Key features documentOn request
- Fund range guideOn request
How it works
What happens, in order
From the first enquiry to the point the cover, the contract or the facility is in place.
A premium is invested across the insured fund range
From £20,000, with additional premiums from £5,000. Funds are chosen by the adviser from the published range.
One annual management charge applies per fund
Taken within the fund price. There is no separate custody, dealing or platform layer, because there is nothing to custody outside our own funds.
Switches are free
Between any funds in the range, as often as the adviser needs, with no charge and no exit penalty.
Regular withdrawals, if wanted
Monthly, quarterly, half-yearly or annually, set as a percentage or an amount, and changeable.
The numbers
A worked example
Illustrative arithmetic, so the shape of the product is visible rather than described. Nothing here is a quotation or a projection.
A £50,000 bond taking 5% a year
A year of the contract written out. Investment return is deliberately excluded: this is the cost and withdrawal arithmetic, which is knowable, rather than a projection, which is not.
- Single premium
- £50,000
- Annual management charge, illustrated at 0.85%Taken within the fund price rather than billed
- £425
- Custody and dealing costsThere is no external custody in this contract
- £0
- Fund switches during the year
- No charge
- Regular withdrawal at 5% a year
- £2,500
- Paid monthly
- £208.33
Illustrative. The charge shown is an illustration rather than the rate for any particular fund — the published fund range carries the actual figures — and a withdrawal is a return of capital until the contract earns it back.
Capital withdrawn on a 5% regular withdrawal
Cumulative withdrawals from the £50,000 bond above, before any investment return.
View these figures as a table
| Cumulative withdrawals taken | |
|---|---|
| Year 1 | £2,500 |
| Year 2 | £5,000 |
| Year 3 | £7,500 |
| Year 4 | £10,000 |
| Year 5 | £12,500 |
Suitability
Where the Delta Account fits
The cases it answers, the cases it does not, and what an underwriter needs before quoting.
It is the right answer when
- Portfolios from £20,000 where simplicity and cost matter more than asset choice.
- A client who wants an income stream from capital, taken monthly.
- Advisers who switch strategy periodically and do not want a cost each time.
Look at something else when
- A client who needs direct equities, structured notes or a discretionary manager.
- Regular monthly saving — the Offshore Savings Account is the regular premium contract.
What we need to quote
- 1.Application, premium and source of funds evidence.
- 2.Fund selection from the published range.
- 3.Withdrawal instructions, if a regular withdrawal is wanted from outset.
Questions
What brokers ask us about this product
Why is there no custody charge?
Because there are no external assets to hold. The contract invests in our own insured funds, and everything the fund pays for is inside the fund price.
Are switches really unlimited?
Yes, and free. There is no switch charge and no limit on the number in a year.
Can the bond be upgraded to the Premiere Account later?
Not as an internal transfer — they are different contracts. Where a portfolio grows past the point at which open architecture pays, the adviser would arrange the new contract in the ordinary way.
Request information
Ask us about the Delta Account
The form reaches an underwriter in Dublin. If you are an intermediary, say so and we will route it to the broker desk.