A life insurance policy provides an insurance over the life of one or more persons. The purpose of the insurance is to guarantee the payment of a capital sum, or an annuity, upon the death of the insured.

A ProFolio contract is a life insurance policy where the return is linked to the investment performance of funds. The purpose of the policy is to constitute a capital sum payable to the designated beneficiary in the event of the survival and/or of the death of the insured(s).

ProFolio main parties

Apart from the insurer, the three main parties involved in the policy are:

1. the subscriber: the person who takes out the policy and pays the premium; in principle this person holds all the rights to the policy.
2. the insured: the person on whom the risk rests. In practice, the subscriber and the insured are often one and the same.
3. the beneficiary: the person who will receive the benefit of the policy and therefore the amounts guaranteed by the policy. at the end of the term or upon the death of the insured.

Depending on the country of distribution, the subscriber chooses the cover desired in the event of the death of the insured(s).

Personal investment strategy

The subscriber also determines his or her personal investment strategy and selects the investment vehicles into which the premium is to be invested.

Throughout the life of the policy and depending on the country of residence, the subscriber has the right to request changes to the cover provided or the allocation of the policy assets.