GlobalCapital Life Insurance Ltd declares an annual reversionary
bonus rate of 3%
05 May 2009
Following the recently
approved financial results of GlobalCapital Life Insurance Ltd,
the Company has declared a 3% annual reversionary bonus rate
payable on its interest sensitive life insurance policies in
force as at 31 December 2008. This bonus rate applies across all
interest sensitive polices except on those were higher
guaranteed rates are built within the policy.
Over
the last
ten
years (between 1999 and 2008) , the Company has declared
an average
annual
bonus rate of
5.2%.
“Over the past months, the financial markets have witnessed a
substantial fall in interest rates, with the ECB lowering rates
to 1.25% and the Federal Reserve in the US lowering rates to a
historical low of 0.25%- Given the current financial
and economic climate
we strive to offer competitive rates of return to our clients by
declaring attractive bonuses” stated Mr. Nicholas Portelli,
Chief Executive Officer, GlobalCapital.
In declaring these annual
reversionary bonuses,
the Company takes into consideration the performance of the
investment assets held within the Company’s Life Fund.
The Life Fund is made up
of carefully selected and diversified investment instruments
including; bonds, equities, funds, real estate and bank
deposits. The mix of such investment tools and the rating of the
underlying assets is monitored and approved by the investment
committee of the Company. Once declared, reversionary bonuses
are guaranteed by the Company.
The declared reversionary
bonus rate applies for all the Company’s regular premium and
single premium interest-sensitive endowment life insurance
policies. An example of a regular premium plan is the Protected
Savings Plan, an interest-sensitive endowment policy aimed at
helping you save money for your children’s future. Similarly the
3% reversionary bonus rate applies also for the single premium
interest sensitive life insurance policies such as the
successful GlobalCapital Investment Bond.
This press release is issued by GlobalCapital Life Insurance
Limited (GCLI) which is authorised to transact Long Term
Insurance business and is regulated by the Malta Financial
Services Authority. Past performance is not necessarily a
guide to future performance. The reversionary bonus rate is
gross and does not take into account the charges applicable for
the respective life insurance policies.
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