The Executive Wealthbuilder Account

The Executive Wealthbuilder Account aims to provide a flexible method of investing your money, with the potential for growth, over the medium to long term (5-10 years).

It is designed to accept single and/or regular premiums and allow your capital to grow. If you set up the account with a single premium only, and do not combine this with regular premium payments, you can take regular withdrawals.

With a choice of more than 300 unit-linked funds from more than 45 fund management groups, the Executive Wealthbuilder Account enables you to spread and vary your investments across a wide range of funds, as you wish, according to your financial goals and your attitude to risk.

As a life assurance policy with one or more 'lives assured', the account will come to an end when the person(s) whose life is covered by the account dies.

This information is only intended as a general introduction to the Executive Wealthbuilder Account. Full details of the product can be found in the Executive Wealthbuilder Account Key Features Document and product brochure available from your financial adviser. Your financial adviser will be able to supply you with a personalised Key Features Illustration for this account.

Benefits

Because the Executive Wealthbuilder Account is structured as a life assurance policy it also offers the opportunity to take advantage of several tax benefits, including arrangements that can help to reduce your inheritance tax (IHT) liability. Your financial adviser can highlight the tax issues which are relevant to you.

In addition, The Executive Wealthbuilder Account enables you to:

• choose from tax-efficient funds to match your investment objectives
• switch funds within your account, without any tax liability and currently without any Skandia administration charges
• keep track of your investments conveniently and simply, with just one set of policy documents no matter how many funds you invest in
• access your money easily, either through tax-efficient regular withdrawals of up to 5% a year of your original single premium paid or through one-off withdrawals for both single and regular premium payments
• cash in all or part of your account whenever you wish
• provide a sum when the last person whose life is assured dies, as the policy will pay out a death benefit of 101% of its encashment value.

Risks

All types of investment involve some risk. The Executive Wealthbuilder Account gives you access to a wide variety of investment funds, the value of which may fall as well as rise. This means that we cannot guarantee the amount you get back when you cash in your account; it may be less than you expect, or less than you have invested, for the following reasons:

Choice of funds

• The Royal Skandia funds available all have specific objectives and associated risks, therefore their performance will differ according to the assets in the underlying funds held within them.
• If you do not review and monitor the performance of the funds in your account regularly they may fail to meet your expectations.
• If funds in your account do not match your attitude to risk they may not perform as you anticipate.
• If a fund has underlying investments in a different currency to that of your account, there may be additional risks because of exchange rate fluctuations.

Charges and withdrawals

• The effect of charges may be higher than projected. For example, you might decide to switch to funds with higher charges, or investment management costs may increase in the future.
• If you take greater withdrawals than originally planned, the value of your account may be less then projected.

Tax changes

• Tax rules could change in the future.

Cancellation risk

• If you decide to cancel your account within the first 30 days, we will give you your money back. However, if the value of your investment has fallen in the meantime, you may not get back the full amount you paid in.

Who is eligible?

Residents of the UK, Channel Isles or Isle of Man.

Minimum and maximum ages

Available to investors aged between 18 and 89 (inclusive).

Minimum contribution

£5,000 minimum initial single premium (or other currency equivalent).

Regular premium payments of at least £200 a month, £600 a quarter, £1,200 half-yearly or £2,400 a year (or other currency equivalent).

Term

You do not need to stay invested for a specified length of time.

This web page is only intended as a general introduction to the Executive Wealthbuilder Account. Full details of the product can be found in the Executive Wealthbuilder Account Key Features Document and product brochure available from your financial adviser. Your financial adviser will be able to supply you with a personalised Key Features Illustration for this account.

go to top

Printer friendly version.
Glossary.

Our online services

Principles of ethical investment

find out more

Information on this website is not intended for Hong Kong residents. Information on this website about Skandia Group Companies is intended for UK residents only, unless it relates to Royal Skandia, Skandia Life Norge or Suomen Sivuliike. Skandia Group companies do not offer investment advice and no information on this website should be construed as such.

Calls may be monitored and recorded for training purposes and to avoid misunderstandings.