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September, 2014
 
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  AmiLife Flexplan: An innovative wealth planning solution for your clients  
     
 

Amicorp has been offering FlexPlan to Amicorp’s client base since the beginning of this year. Due to the interest and demand we are also offering FlexPlan to your clients as well.

FlexPlan is a wealth planning solution relevant to clients globally – but is particularly attractive to your client base in Asia, Latin America, the Middle East and Africa.

FlexPlan is essentially a transparent investment-linked life insurance policy, but with interesting and flexible features which are not common with other SPLI products.  What stands out is that unlike traditional investment-linked life insurance, FlexPlan allows the policyholders (individuals, trusts, foundations or corporations) to keep their existing asset management and custodian relationships in place – your client determines their investment strategy, and can accept non bankable assets as premium payment on the policy.

FlexPlan allows for a smooth transfer of assets to the designated beneficiaries (or charitable organizations) in accordance with the client’s intentions. The client chooses a suitable premium amount, currency policy, funding method (by transfer of existing portfolio or cash), and nominates the beneficiaries and their respective distribution allocation. Should their families’ circumstances change in the future, clients will be allowed to make adjustments through additional contributions to the policy, partial or full surrender (in the event they need to access the funds), or change the beneficiaries and their respective shares. The beneficiaries will also have a choice to receive the insurance payout in cash or by transfer of the underlying investments of the policy fund.

Key benefits of FlexPlan include:

  • A bespoke solution that allows the client to define a legacy plan tailored to their family’s current needs while retaining the flexibility to adjust their plans according to any future changes in the family’s circumstances or in the external environment
  • FlexPlan is a recognized legal format in most countries worldwide
  • Provision for retirement and legacy planning
  • Wealth accumulation and asset diversification
  • Efficient holding of onshore and offshore assets
  • Competitive pricing along with efficient product set-up
  • No medical examination required
  • Ensures peace of mind for clients when transferring assets as part of their estate planning

Conditions

  • For a high net worth individual or entrepreneur, offshore company and/or trust/foundation with a minimum policy amount of USD 1 million
  • Investment risks are borne by the client who will decide the investment strategy, asset manager and custodian bank
  • Premium may be paid in cash or by way of transfer of assets where the allowable assets are cash, marketable securities, hedge funds, structured products, real estate, private equity and shares of privately held companies
  • Cash needs can be fulfilled during the lifetime of the policy through policyholders loans or partial and full surrender.

Please go to our website, http://www.amicorp.com/services/index.php, where you will be able to download the AmiLife FlexPlan brochure.

For more information, please contact your local Amicorp office or our FlexPlan specialists:

     
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  Asia Pacific and Middle East
Shelly Boey
Singapore
Email: S.Boey@amicorp.com
Europe / Americas / Africa
Gijsbert van Doorn
Dubai
Email: G.Doorn@amicorpinsurance.com
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This document is prepared for general information purposes only. Amicorp Group does not provide tax or legal advice to its clients. Any opinions contained herein should not be construed or interpreted as advice provided by Amicorp Group.