Bond Details

ShareGrowth offers you the opportunity to invest in a wide range of Irish and international stocks & shares, commercial property and government gilts. The aim of this plan is to achieve strong returns for you and give you complete access to your investment.

This single premium savings product is available as a single or joint life contract.

Fund choice

You can select from any of the following funds:-

• Managed
• Consensus
• Irish equity
• International equity
• Stewardship (ethical)
• e-fund
• Property
• Fixed interest
• Index linked
• Cash

How Prospector works

The minimum amount you can invest is €5,000. You can invest your money for as long or as short a time as suits you.

When you make your investment we will apply an 'allocation rate', as follows:-

Once the allocation rate is applied, your investment will buy units in the fund(s) you select.

As the unit price of your fund(s) grows so too will the value of your investment.

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Bond features

• Critical Illness/Death benefit
  If you are diagnosed as suffering from a critical illness, or you die, during the life of the policy, you or your estate will receive 101% of the value of your fund or your original investment, whichever is higher. For joint life policies, you can choose to link this benefit to the first or second life.
• Income facility
  You can receive an income from your investment. The minimum income is €250 and the maximum is 10% of your original investment. Income payments will stop if your fund value falls below €1,500. The frequency at which you can avail of this facility is as follows:-

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Charges

• Bid/offer spread
  You will buy units at the offer price and we will sell them (when you withdraw money) at the bid price. There is a 5% difference between the bid and offer prices.
• Fund management charge
  To cover the cost of managing and administering your fund(s) an annual management charge applies. This charge is currently 0.75% p.a. of the value of each fund, 1.125% p.a. for the Stewardship fund and 1.25% p.a. for the e-fund. This charge is built into the unit prices we quote.

Encashment

You can fully or partially surrender your bond at any time. The minimum withdrawal is €250 provided the fund value after the withdrawal is at least €1,500.

If you fully surrender your bond the surrender value will be the bid value of units at that time.

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Taxation

• Relief on investment
  There is no tax relief available on your investment under this plan.
• Tax relief on funds
  The fund(s) you select will grow free of income, capital gains and DIRT tax.
• Tax on encashment
  When you take any money out of your policy you will have to pay an exit tax on the growth element of your withdrawal. The exit tax rate is currently standard rate plus 3%.
• Claiming benefit
  If a claim for Critical Illness or death benefit is made, the benefit will be paid free of exit tax.

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Limits