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Investment Frequently Asked Questions

Investments FAQ's



What is a lump sum investment?

A lump sum investment plan is where you make an initial investment in your choice of QUINN-life funds. Although there is an option to invest following this there is no obligation to invest any subsequent amounts. The minimum initial investment is €1,270 and there is no minimum on any further contributions.Go Up


What is a regular premium investment?

A regular premium investment is where you contribute on a monthly basis to the plan by direct debit. The first contribution to this type of investment must be received by cash, cheque, bank draft or credit transfer. The minimum monthly contribution is €51.Go Up


Is this a type of life assurance policy?

QUINN-life funds are unit-linked and structured like a life assurance policy. This means in the event of the policyholder´s death we will pay a death benefit equal to 100.1% of the value of the policy at the date of the final claim.Go Up


Why do I have to send Money Laundering documents?

Under the Criminal Justice Act 1994 we are obliged to obtain and confirm the true name and correct permanent address for each customer. To verify these details, we require original proof of identity (photo identification), a financial statement and utility bill confirming your current permanent address. All originals are returned directly by swift post.Go Up


What is the minimum / maximum I can invest?

The minimum investment amount on a lump sum investment policy is €1,270, and on a regular savings policy it is €51. There is no maximum investment amount. There is no restriction on additional contributions after inception.Go Up


What are exit charges?

QUINN-life has no exit charges.Go Up


What is exit tax?

Exit tax is the tax deducted on withdrawal or assignment of the policy. Tax is calculated at 23% of growth on all investments. QUINN-life will operate the deduction of tax and make the payment to the Revenue.

In circumstances where the policy has not been surrendered, a deemed disposal event occurs on the 8th anniversary of the inception of the policy whereby exit tax, currently 23%, is payable on the excess of the surrender value over the sum invested.Go Up


What happens if I die?

If a life assured name on the Freeway investment plan dies while the policy is still in force, we will pay a death benefit equal to 100.1% of the value of the units attaching to your policy.Go Up


Can I split my investment into different funds?

Yes. You can choose to invest in any or all of the QUINN-life Freeway funds.Go Up


Deemed Disposal - What is it?

The Finance Act 2006 changed the taxation of life assurance policies by introducing a deemed disposal event at the end of eight years. This is effective retrospectively and will apply to all life assurance policies set up since 1st January 2001. It will apply to QUINN-life savings and investments policies.

In circumstances where the policy has not been surrendered, a deemed disposal event occurs on the 8th anniversary of the inception of the policy whereby exit tax, currently 23%, is payable on the excess of the surrender value over the sum invested.

This exit tax will be deducted by QUINN-life in accordance with Revenue procedures and paid to Revenue as with the current exit tax deduction on surrender.

Where there is an actual disposal subsequent to the deemed disposal, an adjustment is made so that the total tax paid does not exceed that which would have been payable had the deemed disposal not occurred.Go Up

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