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Unit-linked (class 23) life insurance
KBC-Life MI Comfort4Life Defensive is a fund launched under the unit-linked (class 23) investment-type life
insurance contract KBC-Life Multinvest(*). This fund allows you to capitalise in full on market trends.
The key features at a glance
•
Comfort4Life Defensive is aimed at allowing you to benefit fully when market developments are favourable.
The fund managers ensure that your reserve is evenly spread. They adjust the asset allocation when markets
rise, replacing less risky assets by ones offering the prospect of a better return. If there is neither a sustained
rise nor a sustained decline, this fund will be invested more defensively (i.e. less shares or share UCIs* than
bonds or bond UCIs).
*UCI = undertaking for collective investment
•
Comfort4Life Defensive seeks out protection when markets are falling by replacing riskier assets (like shares)
by less risky ones such as bonds or short-term deposits. This system limits any decline in your reserves.
•
You decide who to nominate as beneficiary in the event of death and you can also opt to take out
additional cover to protect your family.
•
This fund does not provide any capital protection or any type of set return.
•
This fund is offered under the unit-linked investment-type life insurance contract, KBC-Life Multinvest, as a
possibility to switch between funds within this contract. It is not possible to directly deposit funds in KBC-Life
MI Comfort4Life Defensive.
(*) You can find more details on KBC-Life Multinvest, including the terms and conditions for switching between funds, withdrawals and applicable tax
treatment on page 3.
Is this something for you?
Legal risk rating: 1
on a scale of 0 (low risk) to 6 (high risk)
Product score:
Customer’s risk profile: from ‘Defensive’
Along with the volatility of the market, this product rating, developed
by KBC, also takes other factors into account such as scheduled
repayment of capital, creditworthiness, asset allocation, exposure to
foreign currencies and liquidity. You can find further details of this in
the 'Product rating' section in this document.
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This product may be suitable for you, depending on your
knowledge and experience of financial matters, your financial
capacity and your investment goals. You should preferably have at
least a defensive risk profile or a profile that can take on a greater
level of risk. Ask your KBC adviser for more advice.
For the complete overview of customer risk profiles, go to
www.kbc.be/riskprofile.
Unit-linked (class 23) life insurance
KBC–Life MI Comfort4Life Defensive
Specifications
ISIN-CODE
LEGAL FORM
CURRENCY
TERM
STARTING DATE
SUBSCRIPTION
DEPOSITS
INVENTORY VALUE
BE6274675360
KBC-Life MI Comfort4Life Defensive is an investment fund developed in-house by KBC Insurance. It is linked
to the unit-linked (class 23) KBC-Life Multinvest investment-type insurance contract and its assets are
managed by KBC Asset Management.
EUR
Open-ended. Funds that are surrendered during the first eight years of the contract are subject to
withholding tax, irrespective of the term of the funds themselves.
15 December 2014
At any time
Direct deposits in KBC-Life MI Comfort4Life Defensive are not permitted. However, it is possible to switch
from and to KBC-Life MI Comfort4Life Defensive to and from other funds that fall under the KBC-Life
Multinvest contract. Features: see KBC-Life Multinvest section.
Determinated twice a month: on the 16th and on the last day of each month. First time on 16 December
2014. You can obtain the net asset value every day from your KBC intermediary or at http://www.kbc.be.
Return
INVESTMENT AIM
KBC-Life MI Comfort4Life Defensive invests in an internationally diversified portfolio of shares and/or
share UCIs, bonds and/or bond UCIs, real estate certificates and/or real estate funds, alternative
investments or hedge funds, financial derivatives and/or payable-on-demand or callable deposits at credit
institutions, money market instruments or short-term securities, that have a maximum residual term to
maturity of one year and are denominated in euros.
The fund aims to be more exposed to any sustained gains on the financial markets than to any sustained declines. The
asset allocation will, therefore, change over time. If the net asset value decreases, the weighting of less risky assets will
increase at the expense of more risky assets. Conversely, if the net asset value increases, the weighting of the assets
involving less risk will be reduced in favour of riskier ones.
RETURN
The value of the fund may fluctuate over time and is dependent on economic conditions. There is no
guarantee of a return and no guarantee that the premiums deposited will be repaid. The financial risk
attached to the fund is borne by the policyholder.
Risk
LEGAL RISK RATING
1 on a scale of 0 (low risk) to 6 (high risk)
This legally required risk rating takes account of the volatility of the market. It is recalculated every six months and may end up being higher or lower
depending on whether market volatility is increasing or decreasing.
Product score
PRODUCT SCORE
3 on a scale of 1 (low risk) tot 7 (high risk)
If the various factors used to determine the product ratings change owing to market circumstances, the product rating can also change. Investors will be
informed through the usual communication channels of any change in the risk profile (a product rating of 1 corresponds with a highly defensive risk profile,
a product rating of 2-3 with a defensive profile, a product rating of 4-5 with a dynamic profile and a product rating of 6-7 with a highly dynamic profile).
More information and background on the various factors used to determine the product ratings can be found at www.kbc.be/productrating.
Fees
ENTRY FEES
EXIT FEE
MANAGEMENT FEE
CHANGE OF FUND
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3% for a switch from another fund to this fund. Direct deposits in this fund are not permitted.
There is no exit fee for switches made from this fund.
The applicable rate is a maximum 1.2% per year. The insurance company reserves the right to adjust the
management fee for the investment fund. The terms and conditions for such adjustment are described in
the management rules. The rate currently charged is 0.85% per year. A management fee may also be
charged for the underlying funds in which this fund invests.
These management fees are already included in the net asset value.
Features: see KBC-Life Multinvest section.
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Unit-linked (class 23) life insurance
KBC–Life MI Comfort4Life Defensive
Liquidity
ACCESSIBILITY
The assets remain available at any time. Specifications: see KBC-Life Multinvest section
Tax system
GENERAL
The tax treatment will depend on each investor’s individual circumstances and on legislation, both of which
can change in the future.
STOCK MARKET TAX
INSURANCE TAX
Not applicable
Belgian Residents/individuals will have to pay insurance tax of 2% on new deposits (from 1 January 2013
onwards). Direct deposits in KBC-Life MI Comfort4Life Defensive fund are not permitted
TAX TREATMENT IN BELGIUM
Specifications: see KBC-Life Multinvest section
KBC-Life Multinvest
KBC-Life Multinvest is a class 23 life Insurance, the return of which is linked to investment funds. Under KBC-Life Multinvest, new investment funds are launched on a regular basis,
each with its own term, investment policy and features. KBC-Life Multinvest is a unit-linked life insurance contract that is entered into for an indefinite period, where you can opt to
combine your KBC-Life Multinvest contract with several KBC-Life Multinvest investment funds of fixed duration. Investment funds that come to maturity within KBC-Life Multinvest
will not be automatically deposited on the customer’s account. There is, however, an automatic fund switch to the KBC-Life MI Cash fund. In addition, it is possible to switch
during the term of the fund from and to KBC-Life MI Cash and KBC-Life MI Comfort4Life Defensive to and from other funds under the KBC-Life Multinvest contract.
SUBSCRIPTION
Continuous, through deposits, allocated to one or several funds in their subscription period. Initial deposit: minimum 2,500 EUR (tax
and costs included), minimum 1,250 EUR per fund. Additional deposits: minimum 1,250 EUR per fund. You can determine yourself the
number of funds and the way in which you divide your deposits over the chosen funds. Direct deposits in KBC-Life MI Cash and
KBC-Life MI Comfort4Life Defensive are not permitted.
CHANGE OF FUND
At any time you can redistribute the reserves that have already been built up over 1 or several funds to 1 or several funds offered within
KBC-Life Multinvest at that moment. In each case, the sum of the exit and entry fees of the funds involved relevant is charged on the
transferred amount. Funds within the KBC-Life Multinvest contract that are reaching maturity are converted automatically and free of
charge into the KBC-Life Multinvest Cash fund in accordance with the conditions of the contract. In addition, it is possible to switch
during the term of the fund from and to KBC-Life MI Cash and KBC-Life MI Comfort4Life Defensive to and from other funds
under the KBC-Life Multinvest contract
WITHDRAWAL
The assets remain available. At any time, the entire amount or a portion thereof may be withdrawn from 1 or several funds. Minimum
1,250 EUR per withdrawal, a minimum of 1,250 EUR must remain invested.
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COVERS
Main cover
If the insured dies before the fund matures, the reserve will be paid out at the prevailing market value.
Optional cover:
Upon payment of the applicable premiums and medical acceptation, you can add a supplementary cover to your contract. A table of
premium rates for coverage of the death risk is available free of charge from the KBC intermediary. The reserve, paid out to the
beneficiary of your choice, may be supplemented as follows:
In case of death: up to a certain amount of capital (minimum 7,425 EUR) or with a certain amount of capital (minimum
1,250 EUR) or with a certain percentage (minimum 1,250 EUR);
In case of death as a result of accident: extra payment equal to one or two times the death payment
BENEFICIARY
TAX TREATMENT IN BELGIUM
You, yourself can nominate the beneficiary who will receive the accrued capital in the event of your death, plus possibly the insured
capital.
Withdrawals during the first eight years of the contract are subject to withholding tax, irrespective of the term of the funds (pending
changes in law).
SETTLEMENT OF FUNDS
According to the terms and conditions listed in the management regulations, the funds can still be liquidated early. For more
information see management regulations.
CHANGE OF INVESTMENT
OBJECTIVES
In accordance with the terms and conditions specified in the management rules, KBC Insurance may change the investment objectives.
For more information, see the management rules.
This product sheet contains only marketing information. It does not contain any investment advice or investment research, just a summary of the product’s
features. The information contained in this product sheet is valid on the date of the product sheet, but could change in the future. Detailed information on
this product, the terms and conditions, and the attached risks can be found in the management regulations and the financial info sheet. This information
can be obtained free of charge from your KBC or CBC intermediary and can also be viewed at www.kbc.be or www.cbc.be. This product sheet is governed
by the laws of Belgium and subject to the exclusive jurisdiction of its courts. The financial services are provided by KBC Insurance NV.
Glossary
For the complete overview of financial and economic terms, go to www.kbc.be/lexicon (available in French or Dutch).
Contact: KBC Fund Phone
Tel: +32 (0)70 69 52 90 (for Dutch speakers) or +32 (0)70 69 52 91 (for French speakers) (Monday-Friday from 8 a.m.
to 10 p.m., Saturdays from 9 a.m. to 5 p.m.)
E-mail: [email protected]
Publisher: KBC Insurance NV – Professor Roger Van Overstraetenplein 2 – 3000 Leuven – Belgium VAT BE 0403.552.563 – RLP Leuven – Bank account 730-0042006-01 – IBAN BE43 7300 0420 0601 –
BIC KREDBEBB – FSMA 038571 A.
Photo source: www.shutterstock.com
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