Private portfolio
| 1. General |
|---|
| 1.1. Currency exchange rate - If Contract Strategy is quoted in the foreign currency, the Insurer shall convert the price of the investment unit into Latvian Lats at the exchange the European Central bank. |
| 1.2. Investment unit shall mean a conditional capital unit, which shows Contract participation in the Strategy. Strategy Investment Unit Value is the total cash value of Strategy Underlying Assets value divided by the total number of the Strategy investment units as of the price date. |
| 2. Transaction dates |
| For the calculation of the value of the Savings reserve, making transactions (e.g. tying Insurance premiums into units, subtracting Contract fees and out-payments), the Insurer shall use the following definitions of dates: |
| 2.1. Accounting date - the date, the prices of which are used by the Insurer upon adding investment units to the Savings reserve or reducing their quantity based on the Contract conditions. |
| 2.2. Working day - all days, except for Saturdays and Sundays and public holidays of the Republic of Estonia. |
| 3. The procedure of transactions | |
|---|---|
| Transactions | Accounting date 1 |
| 3.1. Linking of insurance premiums with investment units | |
| 3.1.1 First linking of Insurance premiums with investment units | The date of Insurance premium payment + 1 working day, but not earlier than the date of Contract conclusion + 14 calendar days + 1 working day. Upon contracts concluded trough electronic channels: The date of Insurance premium payment + 1 working day, but not earlier than date of Contract conclusion + 29 calendar days + 1 working day |
| 3.1.2 Linking of folowings Insurance premiums with investment units | The date of Insurance premium payment + 1 working day |
| 3.2 Deduction of the administrative fee | The 1st day of a calendar month or a working day preceding it, if 1st day of calendar month is not working day |
| 3.3 Changing of the Strategy | Date of submitting the application + 1 working day |
| 3.4 Calculation of the Savings reserve in case of partial withdrawal | Date of submitting the application + 1 working day If the Policyholder has used tax advantages for Insurance premium payments, then the partial withdrawal of Savings reserve is possible after first five year of Contract start date. |
| 3.5 Calculation of the Savings reserve in case of termination of the contract | Date of submitting the application + 1 working day |
| 3.6 Calculation of the Savings reserve and Sum Insured in case of death of Insured | Date of submitting the application + 1 working day |
| 3.7 Calculation of the Savings reserve in case of maturity of the Contract | Last day of Contract term + 1 working day |
| 4. Contract fees (rates and methods of calculating thereof) | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 4.1. Premium fee | 1,50% of Insurance premium The premium fee is deducted from each Insurance premium |
||||||||||||||||||||||||
| 4.2. Administrative fee |
The Administrative fee is calculated as a percentage of the value of the Savings reserve 2. Annual administrative fee rate depends on Strategy and Savings reserve value 2
The Administrative fee is deducted from the Contract Savings reserve 2 |
||||||||||||||||||||||||
| 4.3. Service fee for the termination of the Contract |
0.5% of Savings reserve during the first 5 years from Insurance Contract conclusion free of charge after the first 5 years from Insurance Contract conclusion |
||||||||||||||||||||||||
| 4.4. Service fee for the partial withdrawal of money |
0.5% of Savings reserve paid out during the first 5 years from Insurance Contract conclusion The Service fee for the partial withdrawal of money is deducted from the Savings reserve free of charge after the first 5 years from Insurance Contract conclusion |
||||||||||||||||||||||||
| 4.5. Modification fee | Free of charge | ||||||||||||||||||||||||
| 5. Sum limits |
|---|
| 5.1. If premium payment schedule is agreed in the Contract, the Minimum Insurance premium is 30 LVL per month (90 LVL per quarter; 180 LVL half-year; 360 LVL per year). |
| 5.2. If premium payment schedule is not agreed in the Contract, the Minimum first Insurance premium is 1000.00 LVL. |
| 5.3. The value of the Savings reserve after the mental deduction of the payment as at submission of the application for partial withdrawal of money shall be at least 400.00 LVL. Upon out-payment, partial withdrawal amount together with partial withdrawal fees can not exceed Savings reserve. |
| 5.4. The minimum amount for partial withdrawal of money: 400.00 LVL. |
Effective from 14.06.2012
1 When for the reasons beyond the control of the Insurer, there is no possibility to perform transactions with Underlying Assets and/or to calculate Strategy unit price and therefore the Insurer lacks the opportunity to convert investment units linked to the Contract, the Price date for performing pending transactions for the Contract shall be set as the earliest possible day. In this case any claims of the Policyholder concerning the timing of the operations shall not be considered.
2 Savings reserve here does not include Insurance premiums waiting for conversion to investment units.
 
|
