Independent Financial Advisor and Co-Founder of Affari Miei
February 13, 2024
If you’ve heard of Gold Valuethe new product from Insurance Alliance and you want to know all his characteristicsyou are in the right place.
Today we will analyze together the official documents of insurance and therefore we will investigate all the main aspects of the product in order to understand first of all how it behaves, what characteristics it has and above all how it can be considered in the context of an investment.
Let’s start and see together costs, advantages e disadvantages of Gold Value.
This article talks about:
A few words about Alleanza Assicurazioni
Before presenting you with the offer, I would like to provide you with some information on the institute offering the product, to make you better understand who you are addressing.
Alleanza is part of the Generali Group, one of the largest international insurance and financial companies. The history of this institute begins in Trieste in 1831 and is still a leader in the life insurance sector in our country, but it is also famous at an international level, as it occupies a leadership position in Western European countries and boasts an increasingly important in Eastern European and Asian markets.
Is Valore Oro a safe product?
Without a doubt the institute that offers the product is among the most solid in Italy, but what can we say about the product itself?
Gold Value it’s a Class I policy: it is a policy that invests the money in a separate management: this type is the safest, precisely because this financial management keeps the invested capital separate from the company’s capital, i.e. the money that you choose to allocate to this product will not be affected by the company’s other operations.
This means that the policy is safe from an investment point of view also because, as we will see later, the risk profile will be very low: on the other hand, certainly, you will not be able to expect to obtain very satisfactory or in any case high results.
If you want to learn more about separate management, I invite you to read here.
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The characteristics of Valore Oro
Gold Value it is a Class I policy that invests so that your money is concentrated in a prudent and accessible investment. The expected return offered is 3% in the first year, which you can also integrate with accident protection.
The objective of the policy is to grow your savings to protect you from market volatility, and if you want to achieve at least a short-term goal, with the possibility of easily accessing your savings.
The fund invests in separate management “Euro San Giorgio Fund”and provides protection in the event of death or injury from an accident.
The main performances
We see that the product has a benefit in the event of death: by paying an initial single premium and any additional premiums, in the event of the insured’s death at any time, Alleanza Assicurazioni will undertake to pay the beneficiary a benefit in the form of capital, which will be linked to the results of the separate management.
There is also comprehensive coverage, which is activated in the event of injury to the insured following an accident, before the supplementary coverage expires. In this case, the payment of compensation is expected, determined as a percentage of the insured capital.
If death occurs following a road accident, the payment of an additional amount equal to the insured capital is expected.
Payment of the premium
Il award is freely chosen by the contractor, respecting the minimum and maximum amounts that I am now going to list for you:
Single initial premium: minimum €5,000 (€10,000 if you have additional coverage);
Additional unique prizes: minimum amount €5,000;
Overall prizes: maximum amount €1,000,000.
The duration of the contract
The contract is a whole lifetherefore his duration coincides with the life of the insured. The complementary coverage has a fixed duration of 5 years, starting from the starting date of the contract.
The suspension
There is no provision for suspension of the contract.
The costs of Valore Oro
When we analyze the features of a policy, the most important things to consider are the costs: in fact, they are the ones that impact the return on your investment and can therefore also lead to losses for your capital.
I entry costs are the costs that are applied to the premium when it is paid to acquire the contract. They are equal to 0.10%.
I exit costs however, they are not applied at the time of payment and are instead variable depending on the years that have passed since the start of the contract.
Il management costi.e. what is retained directly from the return of the separate management amounts to 0.96%.
I transaction costs are equal to 0 of the value of the investment per year.
The risk profile
For this product the risk profile is equal to 2on a scale ranging from 1 to 7.
This indication is indicative of the risk level of this product and expresses the probability that the product may suffer losses due to the future performance of the product.
Revocation and withdrawal
Until the contact is concluded, the contractor can revoke the insurance proposal by registered letter. The revocation notice must contain the indication of the agency code and the proposal number, both of which can be found on the proposal itself.
Il withdrawal instead it can take place within 30 days from the date of its conclusion, with a registered letter to Alleanza.
The ransom
You can also exercise the right of redemptionprovided that at least one year has passed from the effective date and that the insured is alive.
The redemption amount corresponds to the value of the contract on the date of request, possibly reduced by a percentage cost if the redemption occurs before four years have passed. The total redemption terminates the contract and deprives it of any further effect from the date of request.
They can also be requested partial redemptions: the amount in this case will be obtained by applying the same criteria as for the total redemption. The minimum partial redemption amount is €1,000, provided that the residual value of the contract is not less than €5,000. A maximum of 2 partial redemptions are allowed in each calendar year.
I redemption costs they are divided as follows:
At the second insurance year: 3.5% decrease; At the third insurance year: 2.5% decrease; At the fourth insurance year: 1% decrease.
The tax advantages
With this product, the insured capital cannot be seized and cannot be seized, with the beneficiary being exempt from paying inheritance taxes on the liquidated capital in the event of premature death.
The contract is subject to insurance taxes in force in Italy.
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Affari Miei’s opinions on Gold Value
Having reached the end of our review we can say that we have truly analyzed all the characteristics of this product. We saw his profile risk and his costs (which is very important) and we also considered the tax aspect and the investment method.
At this point we should try to understand together whether this product can be considered a valid choice for your investments.
If I have to be honest, I don’t really like this product, but not because I think this particular product is not very good, but rather because I believe that all similar products are not completely efficient.
In fact, my aim is to be a general discussion, and therefore I do not want to touch on this product in detail.
I believe that investing in insurance is not to be considered the best thing to do: first of all I invite you to focus on the management costs which are high, and secondly I would also like to make you reflect on the return: I believe that, also in the face of risks minors, a savings account can offer you approximately the same returns.
If you want to delve deeper, I’ll leave you these two resources:
Also one thing I don’t appreciate about these products is that it’s your money’s worth immobilized for many many years, and above all in the face of high costs.
Are you sure that choosing a life insurance policy to invest is really the best choice?
Furthermore, these costs go into the pockets of whoever sells you the product, so you are sure that it is a policy suitable for you, given that it makes more money for the institution that sells it and not the investor who chooses it.
Precisely for this reason mine advise is to orient you towards other products that perhaps can perform the same action as this insurance but at the same time save you on costs.
Conclusions
We saw the complete review together Gold Value. We have analyzed the costs, advantages and disadvantages, and I have provided you with my opinions and a series of useful resources to broaden your vision on this delicate topic.
In the section dedicated to insurance investments you can find other practical ideas to delve deeper into the topic.
I’ll leave you these too guide to start your investment journey in the best possible way in case you need a companion ready to guide you in the complex world of investments:
Happy reading and good investments!
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