Hansard International has been operating from its base in the Isle of Man since 1987. They are one of the top sellers of regular premium life assurance products in the Far East.
In May of this year they launched Vantage Platinum II – a new regular premium offering to simplify their existing range and to improve client outcomes for longer savings terms and for lower premium levels. It replaced the existing range of Vantage and Vantage Platinum.
This product review will take a closer look at the new product and whether the changes have given them any advantages against similar products in the market.
Vantage Platinum II has a minimum savings term of 10 years, and some of the features of the product are:
Free online fund switching and no limit on the number of funds held after the initial investment
- Premium holiday of up to three years, with no additional charges applicable
- Both life assurance and capital redemption options are available
- Available in most major currencies
- Low minimum withdrawal for customer flexibility
- Special offer of increased allocation on the first premium
The minimum premium level for the product is £325 per month. This is an increase on the minimum of Vantage and a decrease to the minimum of Vantage Platinum, which are the products that Vantage Platinum II has replaced.
This in-between level of minimum premium has allowed them to improve the allocation rates previously offered by Vantage, but also include the loyalty bonus that was only applied to the higher premium level of Vantage Platinum.