World Investment Programme

About the product

World Investment Programme is an life insurance with an embedded possibility of investing in Insurance Equity Funds. The product is targeted at Clients who are interested in investing long-term coupled with insurance cover.

The Programme permits investing in Polish and foreign Insurance Equity Funds diversified in terms of potential yield, level of risk and time horizon. The investment offer also includes a guaranteed fund. This is a fund with a safe investment profile, where PZU Życie SA guarantees that valuation of the fund’s shares as of any given valuation day will not be lower than the valuation determined as of the previous valuation day.


Program Inwestycyjny World permits investing in funds of following Mutual Fund Companies and investment companies:

  • Millennium TFI SA
  • NN Investment Partners TFI SA
  • Union Investment TFI SA
  • Skarbiec TFI SA
  • TFI PZU SA
  • Investors TFI SA
  • Quercus TFI SA
  • Ipopema TFI SA
  • BlackRock
  • Franklin Templeton
  • Schroders
  • Fidelity
  • Aviva Investors Poland TFI

Benefits

  • Access to a broad range of Polish and foreign funds,
  • Insurance cover in the event of death and in the event of accidental death,
  • The investment can be made in three currencies: PLN, EUR or USD under a single insurance agreement,
  • No initial fees; 100% premium allocation
  • Money can be moved between funds denominated in different currencies,
  • Permanent access to the money – complete redemption and partial redemptions are possible at any time (up to the 4th policy year a distribution fee shall apply in accordance with the Terms & Conditions),
  • Free of charge change of funds – up to 15 times during a policy year,
  • Death benefit free from inheritance tax,
  • Capital gains tax deferred until withdrawal of the money,
  • Anyone can be set up as the beneficiary.

Insurance cover is provided by PZU Życie SA.

Bank Millennium SA acts as agent for PZU Życie SA.

Minimum investment amount is 25 000 PLN or the equivalent of this amount in EUR or USD converted at the average NBP rate of the day of making the deposit.

Risks

An investment in unit-linked products involves higher costs and risks concerning insurance products. In particular it must be remembered that investing money in a policy involves additional costs and fees concerning insurance policies. In particular the Client should be aware that an investment in funds within an insurance policy involves:

Risk of lack of liquidity – Withdrawal of funds during the first 4 years of the insurance agreement involves a distribution fee, the amount of which, method of calculation as well as collection are stipulated in the Insurance T&C.

Investment Risk – Insurance equity funds do not guarantee attainment of the assumed investment target or a specific investment result. Life insurance with single contribution involves investment risk, lack of protection of the capital invested and the risk of loss of all or part of the invested funds.

Risk of bankruptcy of the insurance company – In case of bankruptcy of compulsory liquidation of the insurance company, if claims of eligible persons cannot be satisfied with assets covering the technical insurance provisions, satisfying claims is a task for the Insurance Guarantee Fund under principles stipulated in the Act on Mandatory Insurance, the Insurance Guarantee Fund and the Polish Bureau of Motor Insurers of 22 May 2003 (Journal of Laws No. 24, item 1152 as amended).

In case of the Insurer's bankruptcy the Insurance Guarantee Fund protects benefits up to 50% of the amount receivable, up to not more than the equivalent in PLN of EUR 30,000 at the average rate of the National Bank of Poland, valid on the day of announcement of bankruptcy, dismissal of the filing for bankruptcy or for discontinuance of bankruptcy proceedings or on the day of ordering compulsory liquidation.

Other risks:

  • Sector's risk,
  • Risk of short-term price fluctuation,
  • FX risk,
  • Tax risk,
  • Legal risk,
  • Settlement risk,
  • Market risk,
  • Interest rate risk,
  • Risk involved with solvency of insurance company,
  • Risk connected with concentration of assets or markets,
  • Level of fees,
  • Product complexity.

Investments in insurance equity funds carry investment risk - the value of the investment may grow or fall, including the possibility of loss of part of the invested capital, while past performance of the funds is no guarantee of attainment of same performance in the future.

Detailed terms and conditions of the insurance, including information about costs and fees as well as risks involved and also information about limitations and exclusions of the insurer's liability as well as rules of operation of Insurance Equity Funds are stipulated in the Terms and Conditions of Program Inwestycyjny World Individual Life Insurance with Insurance Equity Funds furnished to the Client before conclusion of the insurance agreement. The T&C are available in Bank Millennium Financial Centres, on the website of Bank Millennium www.bankmillennium.pl as well as on the website of PZU Życie SA www.pzu.pl.

Legal disclaimers

Any information contained in this COMMERCIAL PUBLICATION has merely an informative nature and does not constitute an offer or recommendation or an invitation directed to anyone (or to any group of persons) to conclude a transaction on financial instruments presented in it. In particular, information contained in this publication does not constitute an offer within the meaning of the Act of 23 April 1964 - Civil Code and is not a service of investment, financial, tax, legal or any other advice. Any investment decision should be taken on the basis of information contained in the Insurance Terms and Conditions, and not on the basis of a short description contained in this publication. The Terms and Conditions of Program Inwestycyjny World Individual Life Insurance with Insurance Equity Funds are available in Bank Millennium Financial Centres, on the website of Bank Millennium as well as in the Insurer’s registered office.

This publication contains the position of Bank Millennium SA („Bank”) expressed on the basis of own assessment of the facts important for the Bank and suitable provisions of law. The Bank assures that it exercised due diligence to make the information included in this publication fair and true, and based on authoritative sources, but it cannot guarantee the fairness, completeness or current nature of information obtained from sources from outside the Bank. The Bank shall not be responsible for financial consequences of the client’s performing of a transaction on financial instruments described in this publication. At the same time the Bank reserves the possibility of changes both in the form and content of this publication, at any time and without notice. The investment in Program Inwestycyjny World is not protected by the Banking Guarantee Fund.

Investing in Insurance Equity Funds involves risk of incurring losses as well as the obligation to pay fees and income tax. The funds do not guarantee attainment of the investment target or a specific investment result.

The risk of using information included in this publication, especially for taking investment decisions on its basis, shall be borne exclusively by its recipient.

Investments into insurance of an investment nature are connected with risk presented in detail in the „Description of the risk connected with financial instruments and products at Bank Millennium S.A.”, available from the branches and on the Bank’s www.bankmillennium.pl website. Anyone who buys a financial instrument assumes and bears liability under tax obligations resulting from binding regulations. In view of the above risks and circumstances the Bank’s clients should have the necessary knowledge and experience in order to assess the character of every considered financial transaction and risk connected with it. Should there be any doubts, the Clients should use the services of a tax, legal or investment advisor. The Bank shall transfer all the additional information for which the client reasonably applied in order to enable to him the assessment of risk and nature of the transaction.

The Client’s conclusion of a transaction on instruments and financial products is the basis for recognising that the Client has familiarised himself with the conditions of the transaction and related risks and accepted them.

The dissemination and distribution of certain instruments or financial products and trading in them can be subject to restrictions with respect to certain persons and states, in accordance with appropriate legislation. It is up to the client to demonstrate the legal capacity and rights to invest in a given financial instrument. The offering of financial instruments and trading in them can be performed only in compliance with appropriate legal regulations.

Information contained in this publication shall be made available to the exclusive knowledge of its recipient. The recipient is not entitled to copy or transfer the information and make it available to third parties in any other way, either in full or in part (apart from transferring it to its professional advisors) without the Bank’s prior written consent.

Information pertaining to the insurance intermediary obligatorily transferred by the Bank on the basis of art. 4a of the Act of 22 May 2003 about insurance intermediation (Journal of Laws No. 124, item. 1154, as later amended) is available on the Bank’s website www.bankmillennium.pl, in Financial Centres of Bank Millennium S.A. and in the Insurer’s registered office.

In the event of bankruptcy of the insurer what is guaranteed as of today are benefits from the life insurance policy for natural persons: 50% of receivables, but no more than 30 thousand euros. Insurance benefits are guaranteed by the Insurance Guarantee Fund upon the principles specified in the Act of 22 May 2003 on Obligatory Insurance, Insurance Guarantee Fund and Polish Transport Insurers Office of 22 May 2003 (Journal of Laws No 124, item. 1152 as later amended). Additional information on www.ufg.pl.

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