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The fund policy for savers
- benefits and key data of the LAR 1 tariff -
Features and application areas:
Being a sophisticatd, individually-optimisable solution, the LAR 1 tariff unit-linked life and annuity assurance product is aimed at clients who want to combine regular savings investments with lifetime cover against life's vicissitudes. Besides a survivor pension with a whole life assurance of 60% of the total contributions, further options include a savings target guarantee which provides for continuation of premium payments in the event the policy holder is unable to work, disabled or unemployed. An additional accident insurance offers a benefit of up to 1.3 Million € in case of accidental disabillity.
But clients only interested in receive an attractive product when taking out a fund policy without a survivor pension, which can be combined with savings target guarantee and an additional accidental disability assurance.
One special feature is the option of allowing dynamic rises in premiums and benefits.
The options for the future payout of the accumulated policy value at the end of the savings process (determent period) are especially flexible. Besides a once-off capital payment, the client can also choose between a lifetime pension payment, combined with a lifetime partner pension payment for 10 years.
A special distribution of the available capital at the commencement of pension payments into a base pension and a bonus pension guarantees that the client can continue to exploit the opportunities of the capital market after commencement of the pension phase.
To better estimate a particular client's coverage and pension requirements, we offer a pension plan advisory software programme that uses a questionnaire to determine the existing statutory and private pension entitlements, and then provides advice on how the client can cover any gaps in the pension plan.
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| Key tariff data (unit-linked life and annuity assurance) |
| Age at entry |
from 1 to a maximum age of 57 |
| Final age |
Minimum age of 18
Maximum age of 69
Minimum age of 55 if life annuity selected |
| Length of policy |
Minimum of 12 years |
| Length of premium payment |
Minimum of 12 years, maximum is end of deferment period |
| Start of insurance |
on the 1st and 15th of each month |
| Premium amount |
- with / without dynamic adjustment, minimum payment 50 € per month
- maximum payment: unlimited |
| Protection in event of death |
- 0% or 60% of total contributions, maximum 75,000 €
- child clause: irrespective of selected minimum of whole life assurance cover
the benefit is limited to 7,500 € until completion of the 7th year of one's life. |
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Dynamic adjustment
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- dynamic increases in premium and benefits
- dynamic adjustment can be suspended at any time; dynamic adjustment
ends if suspended three times in succession
- increase rate in 2nd and 3rd year of insurance is 8% of total prior
payments (insraunce premium and brokerage fee); from 4th to 9th
insurance year, 6% of total prior payments (insurance premium
and brokerage fee), from 10th to 14th insurance year, 5% (in each case
based on previous contribution), from 15th to 18th insurance year, 4%
(in each case based on previous contribution), and from 19th insurance year
onwards, 3% (in each case based on previous contribution)
- increase in minimum death benefit through dynamic increases in
premium amount (from 2nd insurance year); death benefit limited to a
maximum of 75,000 € |
| Investment |
- investment in the CORE investment strategy (60%-100% component) as
the foundation stone of the investment.
- Supplementary investment strategies:
Global Ecology Portfolio 10%
Global Technology Portfolio 10%
Emerging Markets Bonds Portfolio 10%
Private Equities Portfolio 10%
- Additional guarantee component:
Premium or capital guarantee at the agreed policy term.
No guarantee in case of early policy termination |
Citizenship/
place of residence |
policyholder and insured person must be resident in Germany but can be
citizens of any country
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| Key tariff data of additional insurance (savings-plan protection): |
| Age at entry |
from 18 to a maximum age of 57 |
| Final age |
65 |
| Length of policy |
same as premium payment period of main policy, up to a maximum age of 65 |
| Length of premium payment |
same as premium payment period of main policy, up to a maximum age of 65 |
| Start of insurance |
same as main policy |
| Method of payment |
monthly |
| Premium amount |
- 6% of main policy premium and, if selected, of additional accidental disability
premium, plus brokerage fee for 1st to 60th month
- 6% of main policy premium and, if selected, of additional accidental disability
premium, plus brokerage fee from the 61st month onwards
- maximum premium 45 €
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| Continuation of premium payment |
- in event of inability to work or unemployment, up to 12 months
per loss event, with a total of no more than 36 months for different
loss events
- in event of general disability, up to a total figure of 46,016.27 €
- maximum monthly benefit: 750 € |
| Dynamic adjustment |
- dynamic increases in premium and benefits
- premium increases linked to increases in main policy, beginning
in 4th insurance year
- increase in continued premium payment to no more than maximum benefit |
| Other requirements |
- full employment or self-employment in last 12 months before application
- not available to civil servants and particular occupational groups such as
showmen, taxi operators, actors, painters, artists, small business operators,
holders of travel insurance certificates, the managing dirctor of a single
sharholder company, and persons working in the hospitally trade. |
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| :Key tariff data of additional accidental disability insurance |
| Age at entry |
from 18 to a maximum age of 57 |
| Final age |
69 |
| Length of policy |
same as premium payment period of main policy, up to a maximum age of 69 |
| Length of premium payment |
same as premium payment period of main policy, up to a maximum age of 69 |
| Start of insurance |
same as main policy |
| Method of payment |
monthly |
| Benefits |
- no benefit for degree of disability < 60%
- 500,000 € above a degree of disability of 60%
- 900,000 € above a degree of disability of 70%
- 1.3 Million € above a degree of disability of 80%
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| Other prerequisites |
- not available to persons with particularly dangerous occupations, e.g. divers,
munition detection and disposal troups, explosives operators, artitsts, animal
tamers, artistic riders, professional contracted and licensed sportspersons, racing
drivers, jockeys and similar occupations, and for pilots and flight attendants |
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