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Important information
Legal constitution
Hansard Europe Limited is an authorised life assurance company, regulated by the Irish Financial Services Regulatory Authority.
Hansard International Limited is a life assurance company authorised to transact business under the Isle of Man Insurance Act 1986.
Taxation
The policyholder funds of Hansard Europe Limited are not subject to corporation, income or capital gains tax in the Republic of Ireland.
The policyholder funds of Hansard International Limited are not subject to corporation, income or capital gains tax in the Isle of Man.
Some of the funds to which Hansard policies are linked invest in parts of the world where some income tax is withheld at its source; this tax cannot be reclaimed.
Eligibility
Both Hansard Europe Limited and Hansard International Limited are unable to accept applications from residents of certain jurisdictions, owing to legal restrictions in the countries concerned. If in doubt, please ask.
Professional advice
Please note that Hansard employees are not authorised to provide tax, legal or investment advice.
Hansard contracts are available only through independent financial intermediaries acting on behalf of clients.
We always recommend individuals to seek professional advice before completing an application for a life assurance contract. Hansard contracts are available only through independent financial intermediaries acting on behalf of clients.
In particular, if reliance is placed on a specific legal or tax implication or interpretation when considering an investment strategy, the appropriate professional advice should be obtained before putting any decision into effect.
Confidentiality
Unless otherwise required by law, companies within the Hansard Group strictly respect the rights of individuals and companies to conduct their business affairs in private.
Notice To Single Premium Policyholders
The purpose of this notice, which is available for issue by all AILO member companies, is to ensure that investors are made aware of the potential consequences of early surrender of single premium policies, particularly in circumstances where the encashment of an existing policy is followed by a new proposal to another life insurer. It is not a substitute for independent investment advice, and investors should consult their own professional intermediaries for such advice.
The Company that has underwritten your single premium policy is a member of the Association of International Life Offices (AILO).
The costs involved in establishing a single premium life assurance policy for an investor are generally passed on to the investor in the form of a charge payable upon taking up the policy, or upon its ultimate surrender. For this reason AILO member companies endeavour to ensure that the investor is aware at the outset that such a policy should be regarded as a medium-term to long-term investment. In most cases, the policy will also provide that early encashment is subject to a surrender penalty.
Investors should therefore be aware that the surrender of an existing policy in favour of a new proposal to another life insurer would, in most cases, necessitate the further payment of at least one and possibly more sets of charges by the policyholder.
Accordingly, investors are advised to examine carefully the level of charges payable upon surrender of one single premium policy in favour of another, and to consult their own professional intermediaries when considering such a change. It may, for example, be that your present policy provides switching facilities, which allow a change of investment strategy at minimum cost, without the need for surrender.
