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The Lifestar Plans, Lifestar and Lifestar 2000 are flexible investment policies to age 65. The plans offer higher than usual levels of coverage and have the potential for impressive cash returns. Premiums will be invested in our Lifestar Fund.
You can enjoy a significantly greater return on your investment over and above that provided by conventional life policies.
Lifestar pays a death benefit of the basic sum assured or your accumulation in the fund, whichever is greater, while Lifestar 2000 pays the basic sum assured plus your accumulation in the fund.
Both plans mature at age 65 when premiums normally cease and the sum assured is cancelled ; leaving you with the following options:
- Receive the full cash value of your accumulation
- Leave all or parts of the accumulation to further enhance your accumulation, which is always available on request
- Purchase a pension plan for life
The Lifestar Fund
Since its inception, the Lifestar Fund has experienced unparalleled success and continues to display stability, as the first true mutual fund investment in Trinidad and Tobago. Sensible investment, vigilance and experience by our team of investment managers has propelled the Lifestar Fund to surpass all other competitors, time after time.
See how funds are distributed »
Organisation of the Fund
The Lifestar Fund was established in April 1988. The Fund comprises a separately identifiable portfolio of investments within the non-par section of the Life Fund. This performance determines, in part, the benefits payable under the Lifestar, Edustar and NewLife policies. The assets of the Lifestar Fund forms part of Guardian Life's insurance fund. No policyholder has any legal or beneficial interest in these assets. The Lifestar Fund is subdivided and portions are notionally attributed to individual policies solely for the purpose of determining the special cash benefits under the policies. All investments are made in the name of the Guardian Life Lifestar Fund and are kept at the Head Offices of the Company or with their bankers.
Investment Objectives and Policy.
The investment of the Fund is security of capital and to obtain long-term growth through reinvestment of income and capital appreciation. Investments held in the Fund are primary residential commercial mortgages, Government commercial bonds and term deposits in banks in Trinidad & Tobago. These offer relative security of capital and good yield. Other types of investment, including real estate and common stock, will be considered by the Company's Investment Committee from time to time with a view to achieving a diversified portfolio with optimal yield, potential long-term growth and security of capital.
The Company's Investment Committee (a sub-committee of the main Board) has sole discretion and is responsible for investments for the Lifestar Fund.
In selecting investments for the Lifestar Fund, the Committee has regard for all provisions of the Insurance Act 1980.
The auditors of the Company are PriceWaterhouse-Coopers Limited, Chartered Accountants, Port of Spain, Trinidad. An annual audit of the Lifestar Fund is performed by the Company's auditors separately from, and in addition to, the audit of the Company as a whole.
Expenses of the Lifestar Fund
The following Expenses are charged against the Lifestar Fund:
(a) The Company is entitled to a monthly Management Charge in an amount determined in its sole discretion from time to time in respect of each fund. Such monthly management charge is calculated and deducted on each Allocation Day from each Fund and paid to the Company before calculation of the Client Accumulation.
(b) Investment expenses or taxes which the Company incurs on the sale, acquisition, or maintenance of investments of the Fund.
(c) Any tax for which the Company may be liable (in addition to the aforementioned taxes) in respect of the investments or transactions in the Lifestar Fund.
(d) Tax Reserve Account. From the time to time transfers may be made from the Fund to a tax reserve account, but at no time will such reserve exceed the expected liability in respect to such taxes.
Lifestar Fund Index
The Company has established a Lifestar Fund Index with a base value of 100 on 15th April 1988. A calculation is done each month on Allocation Day to determine the index value relative to its vase to reflect the performance of the Fund and to determine the current value of the Client Accumulation.
Annual Statement to Policyholders
After each year and provided that all premiums have been paid, the Company shall supply to the policyholder a statement showing the progress of his Client Accumulation at least once in each subsequent policy year.
