SOLUTIONS - Products Supported
Individual life & pensions
FIT solutions support, as standard, the full range of individual life insurance products. Functionality for individual products is out-of-the-box, which minimises delivery risk.
Group
FIT has the solution for providers wanting to offer competitive, highly serviced group products to their intermediaries and clients. Read More
Unit-linked / Investment
FIT excel in the delivery of investment-linked business, with the administration of unit-linked, universal-life type products, in multiple currencies, across border and in multiple languages.
Credit Life
FIT solutions also support the full range of credit life products, whether on an individual or group basis, quote to settlement.
Bonds
FIT solutions support unit-linked single premium whole life assurance policies. Part of the premium gives life cover whilst the balance is invested in unit-linked funds. Since a bond is a life policy, there are tax advantages; if the capital and annual interest are reinvested in full, there is no immediate liability to higher rate tax. When the proceeds are taken by a former higher rate taxpayer who has become a basic rate payer, there is no higher rate tax liability. LIFEfit supports segmentation and top-slicing to maximise this tax efficiency.
Riders
FIT solutions support any mandatory / optional additional benefits. e.g. Waiver of Premium and Accidental Death Benefit.
Takaful & Shari’ah
FIT solutions support Islamic mortgages - Al-Bay'Bithaman al-Ajil, Al-Mudharabah profit & loss sharing, Al-Daman guarantee protection, Tabarru, eg. savings for children education, Al-Musharakah partnership. |