Co-founder of Affari Miei Independent Financial Advisory Company
November 7, 2023
If you are looking for specific information on Groupama Dimensione Silver policy you are in the right place: today we will analyze all of them together characteristicsstarting from paymentsarriving at costs and to all conditions which must be respected.
I’ll start by telling you that this policy is designed for pensioners who, having reached this fateful milestone, want to protect all their savings set aside throughout their lives.
Let’s see what the product looks like!
This article talks about:
Groupama: a few words about the company
Groupama Insurance it is the first foreign branch of Groupama. It is an insurance and banking group that has an international dimension: it can boast 140 years of history and 13 million customers all over the world.
The company has been able to create international synergies and develop an excellent relationship with stakeholders, which has allowed it to propose innovative solutions in the field of protection of people and assets, as well as assets and professional activities.
The company established itself first in Genoa and then in Rome, where it still has its registered office.
What is separate management?
The product in question invests at 100% in separate management.
You may be wondering what separate management is, what it invests in and above all what its risk profile is.
Separate management is a fund created exclusively by the company, which is managed separately from other activities.
It is an investment tool Safewhich can offer a low risk profile thanks to the instruments in which it invests.
In fact, it often invests in bond instruments, which are by nature safer than equity instruments.
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The characteristics of Groupama Dimensione Silver
The product is alife insurance with profit sharing.
The product requires the payment of a fee unique prizewith the liquidation of the insured capital which is revalued annually until the date of death or redemption.
The objective is to protect capital and conserve it in the short term, protecting it from market variability.
Dimensione Silver also provides a guarantee of invested capital.
The performances
Let’s see what the two main services linked to the contract are:
Performance linked to the results of separate management: these are guaranteed by the company and are revalued every year, on the basis of the financial performance of the same separate management for the period;
Death benefit: in the event of the death of the insured, the greater amount between the insured capital on the date of the event and the invested capital will be paid to the beneficiaries designated in the policy by the policyholder.
Contractual options
There are no contractual options available.
The prize
Il award paid is invested net of costs in the separate management called Vitafin.
The prize can be paid by check or bank transfer to the company.
As regards theamountthe single prize must have an amount of at least €10,000 and cannot exceed €200,000.
Who is the product aimed at?
Dimensione Silver is designed for those aged between 70 and 90. It is therefore aimed at individuals who have a low risk propensity and who are looking for a convenient and simple product to be able to invest their savings and preserve their capital.
To the duration
The contract is a whole life and ends with the death of the insured.
The risk
As we said, the product invests in separate management, so basically it has a reduced risk profile.
It stands on risk 2 on a scale ranging from 1 to 7, meaning lowest risk and highest risk.
It is therefore without a shadow of a doubt a product that has a low risk, precisely because the instruments in which it invests are safe.
The costs of Groupama Dimensione Silver
This is one of the most important parts to check when it comes to analyzing the features of a product.
I costs in fact they are those that impact returns and which must be considered very carefully when we have to make an investment decision.
Let’s see what the costs relating to this contract are:
Entry costs: equal to 0.8%, already included in the premium paid;
Exit costs: not provided;
Management costs: 1% of the investment value in the first 3 years, 1.4% starting from the fourth year;
Transaction costs: not provided.
The recommended holding period for this product is 4 years.
Revocation and withdrawal
In the phase preceding the conclusion of the contract it is possible revoke the insurance proposal by registered letter, and the company will cancel the proposal received.
However, when the contract is concluded it will also be possible withdraw by the same by registered letter sent no later than 30 days from the moment the contract is concluded.
Resolution
The contract provides for the payment of a premium in a lump sum on the effective date, and there is no possibility of suspending premium payments.
The ransom
If at least twelve months have passed since the effective date of the contract, then the policy can be redeemed in total or partial measure.
It is good to know that the redemption request may entail the risk for the policyholder of obtaining a value lower than the sum of the premiums paid.
Tax treatment
Choosing this product will allow you to benefit from unseizeable and of theinsecurability of the insured sums, and you will also be able to freely choose the beneficiaries even if they are outside the inheritance.
You will also be able to modify and integrate the beneficiary initially chosen, and guarantee to your loved ones the transmission of capital which is exempt from inheritance tax and, for the portion of the capital to cover the demographic risk, is exempt from IRPEF.
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Affari Miei’s opinions on Groupama Dimensione Silver
Now that we have reached the end of the analysis of the contract, we can try together to draw conclusions and think to understand if it is a suitable product for you.
I’ll start by telling you that what I’m going to give you will be a general discussion on insurance and that I won’t just be referring to this particular product.
Silver size is aimed at people over 70 who at this point in life want to protect their capital to enjoy a healthy retirement or to think about the future of their beneficiaries and heirs, since when you save your whole life you would like to see your money in hand to loved ones and certainly not lost.
The policy invests in separate managementso this already makes you understand that we are faced with a safe product with relatively low risk.
Of course, you can’t expect gods returns very high, but you will be able to have the guarantee of the capital and know that it will be safe.
However, I invite you to reflect and consider the management costs, which impact on the returns which, as we have just seen, will not be entirely exciting due to the nature of the investment instrument.
I can’t tell you for sure whether this is a product that’s right for you or not because I don’t know your financial and personal situation, so I wouldn’t really know where to start, other than with the advice I’ll give you below.
If you are looking for an investment that can earn you returns, this is certainly not the product for you. In this case, in fact, I advise you to read here to find some solutions suitable for you.
If, however, you want a solution to protect your capital and ensure that it reaches your heirs, you could also think about carrying out a accumulation plan.
I believe that blindly relying on a similar product cannot always be the optimal solution, also in light of the lack of transparency usually offered by insurance companies.
I hope I have clarified any doubts and, before saying goodbye, I would like to leave you some guide useful for starting your investment journey:
Happy reading and good investments!
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