The initial account charge is payable throughout the premium payment term only and will be deducted on each policy monthiversary.
Initial account charge in policy year N = [A% (based on selected premium payment term) /12] X annualised committed regular premium X N, where N refers to the policy year of the policy
E.g. Mr. Wong buys an FWD Invest First Plus policy with 25-year premium payment term and S$12,000 annual premium. His initial account charge in policy years 1, 5, 10, 25 and 26 onwards is as follows:
Please note that the initial account charge will cease after the premium payment term ends.