qwerty-2023
Registered User
- Messages
- 61
After reading through this forum, it seemed that the best way to invest for my future while not having to deal with taxes myself would be via life insurance companies like Zurich, Standard Life, etc. Following this logic, I have opened a few investment bonds this/last year. This is my first experience investing, I'm in my twenties.
However, my parents (who are not Irish) noted that I should be careful to make sure I didn't buy an insurance product rather than a basic retail investment fund. For example the website of Standard Life and the investment bond application form refer to things like "whole of life cover" and "lives assured".
This is probably a really stupid question but... how do I know / check that my investments are indeed just basic investments (i.e. same as investing spare cash in an ETF on DeGiro, except that here taxes are taken care of), that I can cash out whenever I like, rather than some sort of insurance product? My policy documents don't say anything like that, they only state any early exit fees, so I should be fine... right? The term "life insurance policy" is confusing me big time!
Thanks in advance for any explanation!
However, my parents (who are not Irish) noted that I should be careful to make sure I didn't buy an insurance product rather than a basic retail investment fund. For example the website of Standard Life and the investment bond application form refer to things like "whole of life cover" and "lives assured".
This is probably a really stupid question but... how do I know / check that my investments are indeed just basic investments (i.e. same as investing spare cash in an ETF on DeGiro, except that here taxes are taken care of), that I can cash out whenever I like, rather than some sort of insurance product? My policy documents don't say anything like that, they only state any early exit fees, so I should be fine... right? The term "life insurance policy" is confusing me big time!
Thanks in advance for any explanation!