Fund Switching Clause Samples
Fund Switching. While the rider is in force, You are entitled to an unlimited time of Portfolio fund switches. Currently, We do not impose any charge for fund switching. Each policyholder is allowed to have 1 Portfolio fund at any time, as such all the units of the Portfolio fund need to be switched out upon fund switching. We reserve the right to revise the charge for fund switching by giving You thirty (30) days’ written notice. If We accept Your fund switching request, We will sell the units in the Portfolio fund that You have instructed Us to switch out from. We will then use the net sale proceeds to buy the units of the Portfolio fund that You have instructed Us to switch into. The fund switching is based on the unit price of the applicable Portfolio fund at the date when the switching is carried out by the Fund manager. Should the fund switch request be received before 3 p.m. (Singapore time), We will use the unit price for the current Valuation day else it will be based on the unit price as at the next Valuation day. Should the Fund manager initiate a change of ILP sub-fund(s), We will perform fund switch on Your behalf to switch out the ILP sub-fund(s) based on the prevailing unit price. We will update You of such change(s) in accordance with applicable laws and regulations by giving You thirty (30) days’ written notice.
Fund Switching a) Upon receipt of instructions from Employee and/or Employer, the Fund Management Entity may accept partial or full switch in/out from any one of the above mentioned funds from time to time.
Fund Switching. You may request to perform an unlimited number of fund switching during the policy term, without any charge. You may switch all or any of the units of one fund to another fund offered under Your policy at any time during the policy term, provided the account value of your policy is positive. Each policyholder can only hold either up to ten (10) ILP sub-funds or one (1) Portfolio fund and up to nine
Fund Switching. While the Policy is in force, You are entitled to an unlimited number of times of fund switching. Currently, We do not impose any charge for fund switching. You can only hold a maximum of ten (10) ILP Sub-Funds under Your Policy. The minimum fund switch amount is S$500 per fund. If the remaining value of the fund is less than S$500 at the point of fund switch, You must switch out all the units from this fund. For specified limits for certain ILP Sub-Fund(s), please refer to the individual fund’s Product Highlights Sheet for details. If We accept Your fund switching request, We will sell the units in the ILP Sub-Fund(s) that You have instructed Us to switch out from. We will then use the net sale proceeds to buy the units of the ILP Sub- Fund(s) that You have instructed Us to switch into. The fund switching is based on the unit price of the applicable ILP Sub-Fund(s) at the date when the switching is carried out by the Company. Please refer to clause 3.8.9 for the Processing of Requests and Dealing Deadline. We reserve the right to revise the charge for fund switching by giving You thirty (30) days’ written notice.
Fund Switching. You are entitled to an unlimited time of fund switches. Currently, We do not impose any charge for fund switching. Each policyholder can only have one (1) Portfolio fund at any time, as such all the units of the Portfolio fund need to be switched out upon fund switch request. We reserve the right to revise the charge for fund switching by giving You thirty (30) days’ written notice. If We accept Your fund switching request, We will sell the units in the Portfolio fund that You have instructed Us to switch out from. We will then use the net sale proceeds to buy the units of the Portfolio fund that You have instructed Us to switch into. The fund switching is based on the unit price of the applicable Portfolio fund as at the date when the switching is carried out by the Portfolio fund manager. Should the Portfolio fund manager initiate a change of ILP sub-fund(s) to the Portfolio fund, We will perform fund switch on Your behalf to switch out the ILP sub-fund(s) based on the prevailing unit price. We will update You of such change(s) in accordance with applicable laws and regulations by giving You thirty (30) days’ written notice.