employee will usually increase each year as the employees become older; however, if employees who retire, die or leave service are replaced by younger employees for whom lower rates of premium may apply, the cost may not increase. If the number of employees included in the Policy increases to <INSERT> or more at any time, the cost will be calculated on the unit rate basis. Schemes with 20 Employees or More: Unit Rate -The policy accounting is based on a Unit Rate method using simplified administration. This means that an annual rate of premium applicable to all employees (referred to as the unit rate or flat rate) is calculated at the beginning of the guarantee period. At the beginning of each year a provisional premium will be calculated based on the total salary roll at the commencement date multiplied by the unit rate (which could be a nominal rate, or could be expressed as a percentage of salary or as a percentage of benefit). If the number of employees included in the Policy falls below <INSERT> at any time, the cost will be calculated on the single premium basis. For full details of this please refer to the Key Features document. Salary Definition The above recommendation and premiums are based on your agreement that definition of the insured’s salary is as follows: Basic salary only Basic salary plus other earnings from the employer (for example overtime, bonus, commission or directors’ fees) averaged over a given three year period Total earned income from the employer during a given 12 month period Total P60 earnings in the preceding tax year. Annual average amount of earnings drawn from the partnership (partnership drawings) in the last three partnership accounting years. In the event that any member’s salary changes or they cease to be actively employed in the future you should contact the insurance company as this may affect the terms of the policy. . INSTRUCTION TO USER – The following section concerning charges of the recommended plan or provider will need to be merged with the Important Information (Cost of Services) section produced by the PPOL Suitability Report Builder. Where the text is highlighted in blue this tends to suggest that the text may not be appropriate in all instances. Please delete the charges which are not applicable to the recommended plan or provider. Where the text is highlighted in red, this will require your input. Further Information and Risk Warnings A summary of the risk warnings associated with my advice can be found in the Appendix of this report and should be read with particular care. Additional information regarding the recommendations can be found in the Key Features Document(s) provided. Cost of Services
employee will usually increase each year as the employees become older; however, if employees who retire, die or leave service are replaced by younger employees for whom lower rates of premium may apply, the cost may not increase. If the number of employees included in the Policy increases to <INSERT> or more at any time, the cost will be calculated on the unit rate basis. Schemes with 20 Employees or More: Unit Rate -The policy accounting is based on a Unit Rate method using simplified administration. This means that an annual rate of premium applicable to all employees (referred to as the unit rate or flat rate) is calculated at the beginning of the guarantee period. At the beginning of each year a provisional premium will be calculated based on the total salary roll at the commencement date multiplied by the unit rate (which could be a nominal rate, or could be expressed as a percentage of salary or as a percentage of benefit). If the number of employees included in the Policy falls below <INSERT> at any time, the cost will be calculated on the single premium basis. For full details of this please refer to the Key Features document. Salary Definition The above recommendation and premiums are based on your agreement that definition of the insured’s salary is as follows: Basic salary only Basic salary plus other earnings from the employer (for example overtime, bonus, commission or directors’ fees) averaged over a given three year period Total earned income from the employer during a given 12 month period Total P60 earnings in the preceding tax year. Annual average amount of earnings drawn from the partnership (partnership drawings) in the last three partnership accounting years. In the event that any member’s salary changes or they cease to be actively employed in the future you should contact the insurance company as this may affect the terms of the policy. . INSTRUCTION TO USER – The following section concerning charges of the recommended plan or provider will need to be merged with the Important Information (Cost of Services) section produced by the PPOL Suitability Report Builder. Where the text is highlighted in blue this tends to suggest that the text may not be appropriate in all instances. Please delete the charges which are not applicable to the recommended plan or provider. Where the text is highlighted in red, this will require your input. Further Information and Risk Warnings A summary of the risk warnings associated with my advice can be found in the Appendix of this report and should be read with particular care. Additional information regarding the recommendations can be found in the Key Features Document(s) provided. Cost of Services
GroupLifeAssurance201718_12052017115428.docx