About the product

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Wygodny Portfel Investment Programme is a unique offer created for persons who aim to grow their assets for the future. The Programme combines the opportunity to accumulate funds to carry out long-term plans with insurance cover.

Insurance

The policy provides basic cover, comprising death of the insured as well as death in result of an accident. This cover can be extended by as follows:

  • In the event of death
and/or
  • In the event of death in result of an accident,

Which increases the sum insured.

The offer is targeted at persons aged 18 – 70 and does not require a medical examination.
The minimum amount of the first payment is PLN 10,000.
Insurance cover is provided by Generali Życie T.U. SA.

Model portfolios

 

In the investment part we offer four model portfolios with diversified yield and risk potential:

  • They permit capital to be grown effectively,
  • They comprise selected funds, picked by experts on the basis of thorough investment analyses, historical data and preferences of investors,
  • A team of experts managing the portfolios invests in Polish market and global market funds, selecting from among over 350 funds managed by more than 10 leading investment companies,
  • Composition of the portfolios is monitored daily, while the managers decide about share and changes of the mutual funds in the portfolios, reacting promptly i.a. to significant changes on financial markets,
  • The possibility to adjust strategy to the planned investment duration, accepted risk and expected gains,
  • At least 45% and not more than 60% assets of the model portfolios are invested in selected Millennium TFI SA funds.

Wygodny Portfel Investment Programme is a solution for people who:

  • Want to grow their money and secure the future of themselves and their family,
  • Seek a solution, which provides access to the broad range of mutual funds of various managers under a single agreement,
  • Seek solutions, which will increase the quality of their life in the future.

Benefits of investing in Wygodny Portfel Investment Programme:

 

  • The opportunity to choose the optimum investment strategy and to change it at any time,
  • Access to the accumulated money at any time, after the 4th year at no extra cost,
  • The possibility to make further deposits at any time and in any amount (starting from PLN 500) during the first 4 years of the insurance,
  • No up-front fees, 100% premium allocation,
  • Capital gains tax deferred until the money is paid out,
  • Payment of the benefit is free from inheritance and donation tax,
  • The life insurance benefit is partly exempt from court execution,
  • Anyone can be indicated as the beneficiary,
  • The part due to the beneficiary is excluded from inheritance.

The Wygodny Portfel Investment Programme is individual life insurance with the possibility to invest the paid premiums in insurance equity funds. The product combines insurance cover with the opportunity to accumulate and grow money.

Insurance equity funds are a stand-alone and separately investment part of the assets of a life insurance company. In case of the majority of insurance equity funds the assets are invested in units of mutual funds or in participation titles. An investment in unit-linked products involve higher cost and risks concerning the insurance products. It should be remembered in particular that an investment in a policy involves additional costs and fees concerning insurance policies.
 
Insurance equity funds may be offered as individual funds or as model funds, the assets of which are invested in participation titles and/or investment certificates of more than one mutual funds.
 
An insurance agreement is a long-term product; the suggested investment period depends on the selected strategy of the funds and the period of collecting liquidation payments.

In case of bankruptcy of the insurance company or its insolvency, satisfaction of claims of beneficiaries under insurance agreements is made in keeping with valid principles of Insurance Guarantee Fund.

The detailed terms and conditions of the insurance as well as costs and risks associated with it, as well as information about limitation of the insurer's liability and operating rules and investment strategy of Insurance Equity Funds are stipulated in the Terms & Conditions of Wygodny Portfel Investment Programme Insurance, presented to the Customer before signing the insurance agreement, which are available in Bank Millennium branches, on the website of Bank Millennium and in the offices of the Insurer.

Insurance benefits are protected by Insurance Guarantee Fund under principles stipulated in the Act of 22 May 2003 on compulsory insurance, the Insurance Guarantee Fund and the Polish Motor Insurers’ Bureau (Journal of Laws No. 124, item 1152, as amended). Additional information on www.ufg.pl.

An investment in unit-linked products involves higher costs as well as risks regarding insurance products. In particular one should remember that investing in a policy involves additional costs and and fees regarding insurance policies.

Credit Risk of the Insurance Company – inability of the Insurance Company to pay its liabilities on time, including risk of bankruptcy of the Insurance Company and the possibility of failing to perform contractual obligations to the Policy Holders.

Market Risk – risk of incurring losses resulting from decrease of value of participation units in insurance capital fund, in result of decrease or restrictions regarding sale of financial instruments, in which money is invested in the insurance capital fund.

Liquidity risk – uncertainty involved with the possibility of quickly obtaining proceeds from sale of participation units/titles, in which money in the insurance capital fund is invested, in an amount, which does not differ significantly from current market value resulting from the period between placing a sale order and the strike date.

Risk of loss of capital – involves the possibility of losing the invested capital

Other risks

  • Sector risk
  • Risk of short-term price volatility
  • FX risk
  • Tax risk
  • Legal risk
  • Settlement risk
  • Interest rate risk
  • Risks connected with concentration of assets or markets
  • Product complexity

All and any information contained in this COMMERCIAL PUBLICATION is for information purposes only and does not constitute an offer in the meaning of the Civil Code of 23 April 1964, or a recommendation or an invitation addressed to anyone (or any group of persons whatsoever) to conclude a transaction involving the financial instruments presented herein. In particular, it does not constitute investment, financial, tax, legal or any other advice. Any investment decision should be taken on the basis of information contained in Insurance Terms and Conditions as well as the Key Information Document (KID), not on the basis of the abbreviated description provided herein. The above documents are available on the Bank’s website www.bankmillennium.pl and in the Bank’s branches.

This publication contains the position of Bank Millennium SA (“the Bank”) expressed on the basis of proprietary assessment of facts material for the Bank as well as relevant legal regulations. The Bank assures that it acted with due diligence in order that information contained herein is accurate and based on reliable sources, however it cannot guarantee that information obtained from sources outside the Bank is accurate, complete and up to date. The Bank shall not be liable for financial consequences of transactions made by the Client on financial products described herein. At the same time the Bank reserves the possibility to make changes in form as well as substance hereof, at any time and without prior notice. An investment in Program Inwestycyjny Wygodny Portfel is not protected by Banking Guarantee Fund.

The risk of using the information contained in this publication, in particular as regards making investment decisions on its basis, shall be borne solely by its recipient.

Investments in insurance of investment nature involve risk, presented in detail in the “Description of Risk Involved with Financial Instruments and Products in Bank Millennium S.A.”, available in the Bank’s branches and on its website www.bankmillennium.pl. Whoever purchases a financial product, accepts and carries responsibility for tax liabilities stemming from valid regulations. With the above risks and circumstances in mind, the Bank’s Clients should have essential knowledge and experience to assess the nature of every contemplated financial transaction as well as risks involved with it. In case of any doubts, Clients should use the services of a tax, legal or investment adviser. The Bank shall provide any and all additional information, which the Client reasonably requests, to enable him to evaluate risks and nature of the transaction.

Dissemination and distribution of certain financial instruments or products as well as trading in them should be subject to restrictions with respect to certain persons and states; it is for the Client to demonstrate legal capacity or eligibility for investing in a particular financial instrument. Offering financial instruments and trading in them may be made only in compliance with relevant legal regulations.

Investing in Insurance Capital Funds involves risk of a loss as well as the obligation to pay handling fees and income tax. The funds do not guarantee attainment of the investment aim or a specific investment result.

Information about insurance agent provided by the Bank under the Act of 15 December 2017 on Distribution of Insurance (Journal of Laws 2017 item 2486 as amended) and is available in the Bank’s branches and on its website www.bankmillennium.pl.

In case of announcement of bankruptcy of the insurance company or dismissal of a petition to announce bankruptcy of the insurance company or quashing bankruptcy proceedings, if the debtor’s assets obviously do not suffice even to satisfy costs of the bankruptcy proceedings or in case of ordering compulsory liquidation of the insurance company, if claims of eligible persons cannot be covered from assets covering technical provisions, satisfaction of claims of persons eligible under life insurance agreements is one of the tasks of the Insurance Guarantee Fund under principles and terms specified in the Act of 22 May 2003 on compulsory insurance, the Insurance Guarantee Fund and Polish Motor Insurers' Bureau (Journal of Laws from 2013 item 392 as amended). The Insurance Guarantee Fund protects benefits up to 50% of the amount receivable, up to no more than the equivalent in zloty of 30 000 euro at the average rate announced by NBP, valid on the day of announcement of bankruptcy or of quashing the bankruptcy proceedings, or on the day of ordering compulsory liquidation.

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