Investment Return-New Ireland Vision Plan

[Jonny]

Hi Folks

Has anybody had any direct experience with this product ?
Basic info. as follows;

* Policy effected 1985
* Amount paid in via monthly installments circa 50k
* Current value 26k

Can only be encashed on death !

Just looking for some basics on the product itself And the way it would have been originally tailored & sold.

Many Thanks

 

[poupoune]

new ireland vision plan

was it sold as a term or whole of life policy?

 

[rocksider]

Vision Plan policy

I have seen this policy for a client of mine. It contains a life assurance element and an investment element. The investment is allocated 80% into the Opportunity Managed units fund and 20% in the Gilt Edge Fund Series 5.
The policy was taken out in 1992 at a premium of 40punts per month , with original joint life assurance of 30K, with indexation (5%, i think applying), as in 2006 this cover was at €69,700.
There appears to be bonus allocations of units on each 5 year anniversary.I cannot see anything in relation to terminal bonuses and it would be interesting to find out as typically a lot of people who start these policies drop out over the years.
Don't have an up to date valuation, but will be getting one from client in due course.
Hope this helps a little.

 

[hopalong]

I also have one going back a few years. Its a life policy and savings in one policy. The savings are from an evergreen fund and gilt edge fund ,a managed fund and equity fund. Lets say the savings are 1000euro and the life covered is 50,000euro. Can i take out my savings of 1000euro, keep paying into my policy to maintain my life cover and rebuild my policy saving funds, or are there other issues involved.It is a whole of life policy. According to new ireland i have a choice of taking all my savings and closing the policy . or taking some savings ,but they will put up the cost of my monthly payments. I was of the opinion the savings were mine,and every few years when they built up,i could withdraw some money and continue paying my policy monthly. Is it possible to get advise from somewhere other than new ireland on my policy.