Acorn Life Savings

E

eok56

Registered User
Messages
23
I have had just had a visit from a rep of Acorn Life, I dealt with him previously when he used to work with FDC, anyhow he was recomending that I do a an Acorn Life savings plan based on 20% Managed growth fund and 80% Cautiously Managed fund saving €100 per month. I haven't committed to anything yet, just looking for some advice?
 
Before you do anything find out how much he makes from the Policy he has proposed. This might assist you in making your mind up.
 
The charges are relatively high :

  • 5% of each contribution is taken as a Bid/Offer Spread,
  • €3.50(ish) per month policy fee that may increase every year,
  • Annual Management Charge of circa 0.5% (which is good)
  • and a nil allocation period where none of your money is 'invested' in the policy for a number of months. I think that this may be at the discretion of the vendor. Any increases in contributions via 'indexation' would also get hammered by this nil allocation period.
They do offer a 'carrot' in the form of a 'bonus' after every 10 years but this is conditional on all premiums being paid as required.

If you are asking about the split in funds (?), it is impossible to tell what is suitable to your risk profile without further information from you.



GS
 
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