Equity Multiplier is a non-participating, equity-linked investment product which offers nominal insurance coverage and can be surrendered at any time for the bid value of the total of the units allocated to the policy less a transaction fee. This transaction fee can be varied by the Company from time to time.

Insurance Coverage

The policy provides nominal life insurance of $1,000.00. In the event of death, the benefit payable is the aggregate of the sum insured and the Fund Value.

Premium Payments

The initail Premium is payable on the Issue Date. Additional Irregular Premiums may be paid at any time during the lifetime of the policy. Both the Initial Premium and any Additional Irregular Premiums are subject to a minimum amount that the Company may vary from time to time.

Allocated to the Fund

All premiums paid (100%) will be allocated to the Fund.

Encashments

You may encash units from any of the Sagicor Investment Funds at any time, subject to a minimum encashment value and a transaction fee. The transaction fee and the minimum encashment value are determined by the Company from time to time.

SURRENDER VALUE

You may surrender your plan at any time for its Fund Value, which equals the value of all the units allocated to the plan, less a transaction fee.

SAGICOR INVESTMENT FUNDS

The Balanced Fund, the Equity Fund, the Fixed Income Fund, the Foreign Currency Fund and the Fixed Interest Fund are separate and identifiable funds investing in a variety of assets. Units in these Funds are purchased by an Initial Premium and by any subsequent Irregular Premiums. These values of the Units fluctuate with the market value of the assests in the Funds. Hence, the value of your investment in the Fund is not guaranteed in monetary terms.
  • The Balanced Fund, a separate and identifiable fund, is invested in fixed income securities, tradeable equities and real estate. The constituent investments and the proportions in which they are maintained may be varied by the Company from time to time. The value of the holdings will vary from time to time.
  • The Equity Fund, a separate and identifiable fund, is invested primarily in shares traded on recognised stock exchanges and fixed interest securities. The constituent investments and the proportions in which they are maintained may be varied by the Company from time to time. The value of the holdings will also vary from time to time.
  • The Fixed Income Fund, a separate and identifiable fund, is interest bearing deposits. The constituent investments and the proportions in which they are maintained may be varied by the Company from time to time. The value of the holding will also vary from time to time.
  • The Foreign Currency Indexed Fund, a separate and identifiable fund, is invested primarily in government securities denominated in currencies other than Jamaican dollars, and foreigh. The constituent investments and the proportions in which they are maintained may be varied by the Company from time to time. The value of the holdings will vary from time to time.

VALUATION OF THE FUND

The assets of all the funds are valued by the Company on such day or days of each month that the Company may determine (the "Valuation Date"). Real properties are valued not less than once per year by an independent valuer who has no direct or indirect interest in any of the properties held or to be held by the Funds. At the discretion of the Company, provision may be made in the fund valuation for any estimated changes in the value of properties since the last independent valuation. The value of a security, which is traded on a recognised stock exchange, will be calculated by reference to the relevant quoted prices on the Valuation Date. If the security is not quoted in Jamaican currency, it will be valued using the appropriate exchange rate. The value of any other security is determined by the best available quotation or means available quotation to the Company.
The value of the offer and bid prices of the Units in these Funds will be determined on the same day.

CHARGES AND FEES

The following charges will be deducted from the Funds, periodically;
  • Investment taxes at the rate charged by the Government.
  • Transfer cost;
  • Brokers' fee;
  • Valuation fees;
  • Other expenses associated with the purchase, maintenance and sale of assets;
  • Management fees;
  • Interest due on any amounts borrowed by the Funds.

CERTIFICATES

Within 30 days of each anniversary, the Company will provide you with a certificate showing:
  • The amount allocated to purchase Units in each fund during the preceding Policy Year;
  • The number of Units in each Fund allocated to the policy, together with their value, calculated at their bid prices on that day; and
  • The cash surrender value of the policy on that date.
You will also receive a copy of the Fund Statement, prepared not more than 105 days before the date of the Certificate, showing for each Fund;
  • A list of the respective values of the investments of the Fund;
  • All amounts accrued to or deducted from the Fund over the year ended on the date of the Fund Account, including all charges or taxes, management charges or other expenses.

CHARGES APPLICABLE TO THE EQUITY MULTIPLIER

  • Cost of Insurance Charge: $100 is deducted from the Initial Premium to fund the sum insured.
  • The minimum amount which can be encashed at any time is currently $3,000
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