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Product overview
Two life insurance policies that operate as simple investments – Foundation Plans and Children's Foundation Plans
| Details | |
| Historical performance | Product Disclosure Statement |
| Features | |
| Two policies are available: |  |
| Foundation Plans – provides a tax-paid benefit after 10 years to the person you nominate as the life insured | |
| Children's Foundation Plans – ownership transfers to your nominated child on the date of your choice | |
| Investment options – a choice of three diversified strategies that invest in a different mix of income and growth assets, and one cash option. You choose the Funds that best meet your needs | |
| Minimum initial investment - with savings plan | $3,000 $1,000 or more + $100 monthly |
| Minimum additional contributions | $100 monthly or $1,000 each |
| Administration fee | $4.98 monthly, indexed annually (unless balance is more than $15,000) |
| Withdrawal/Switching fee | $63.80 each, indexed annually (but first 2 withdrawals and 2 switches per year are free) |
General advice on this website has been prepared without taking into account your objectives, financial situation or needs. Before acting on the advice, consider its appropriateness. Consider our disclosure documents, which include Product Disclosure Statements (PDS) for some products. The PDS is relevant when deciding whether to acquire or hold a product. View our ABN & RSE Numbers for Superannuation entities.
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Investments in these products are not investment deposits or other liabilities of WBC or member companies of the Westpac Group unless otherwise stated. They are subject to investment and other risk, including possible delays in payment of withdrawal amounts in some circumstances, and loss of investment value, including principal invested. None of these companies guarantee the repayment of capital or the investment performance of the Funds.
Information current as at 2 October 2002.
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