MVA-free options

This section only applies to CMI Premier Bond II, which is an offshore single premium investment plan with some life cover.

It is important to understand the difference between the contract and the fund(s) in which you have invested. Your contract does not have a specified investment term or maturity date and can continue for the whole of your life. Through the contract you have access to a range of investment funds including the Offshore With-Profits (OWP) fund in which you may be currently invested. The OWP fund does not have a specified investment term but in some cases a market value adjuster (MVA) free-date may apply. If applicable, the MVA-free date was fixed on the day you invested in the fund.

You can give us notice to make changes to your investment on the MVA-free date, without an MVA being applied. However, this option is only available on the MVA-free date and cannot be extended. In line with the policy provisions, we must receive your instruction at least 30 days before the MVA-free date.

On the MVA-free date there are four main options available. We recommend you read the following information carefully, and discuss these options with your financial adviser before making a decision.

Please select the information you require from the list below:

Continuation option Switching Regular withdrawals
Partial or full surrender