Don't know about Ark Life but the standard allocatioon rate for €10,000 into New Ireland is 98%, less 5% bid/offer spread, and 0.75% annual management fee. Not sure if Bank of Ireland Life have the same charging structure, as ultimately they sell New Ireland policies.
This ignores any special offers available from both the life assurance companies and some brokers at this time of year.
Liam
I was aware of the 5% entry cost. Are you also saying that you also lose 2% in allocation. Does this mean in this example, assuming no change in fund values, that your fund is only worth 93% - i.e. if you pass away, say, 1 month after investing, that your estate will only get €9,300
Yes you're correct - but bear in mind this is the standard product I'm referring to. There are lots of better deals out there at this time of year. Have a look through other recent posts in this forum.
Nobody mentioned PRSAs - I presume the reference to "standard product" means that it's a personal pension plan and the charges outlined are the standard ones which may be negotiable by individuals or brokers.
Re. the New Ireland 5% bid/offer spread quoted above for the single premium, I was informed by my broker that this is in fact "cancelled out" by a 5% bonus on policy maturity. Does anyone know whether this is correct? Thanks.