Unit Linked Life Assurance Products


This course is provided in English and French. Details in French are available on request.

The EU Third Life Directive gives a European passport to Life Assurance products authorised in one EU member allowing them to be sold in other EU countries.

Luxembourg for reasons of tax secrecy, geography etc. has been selected by many foreign companies as a base in which to set up pan-European Life Assurance operations, especially when Unit Linked or when there is a strong investment consideration with a wide choice of funds, including profiles with a guaranteed capital return.

To meet Luxembourg regulatory requirements, detailed processes and operations must be established to handle client data, money transfers, accounting and pricing and to control policy values.

This course provides a detailed overview of the operational areas and regulations, as well as the business venues that can arise via 3 modules - 

- Review of the Life Cycle of a Unit Linked Policy with examples 

- Consideration of the Regulatory and Business Issues Arising

- Legal & Regulatory Control Framework required


  • Managers, Supervisors and employers in the back office of fund administrators and banks dealing with these products  or considering entering this business activity.
  • Fund Accountants in Banks and Fund Administrators or Assurance companies administering unit-linked products
  • Transfer Agency Managers and Staff handling these products seeking a good overview
  • Auditors of Unit Linked Life Assurance operations

Delegates need at least 6 months' experience of work in at least one area in a Life Operation or Fund Administrators or Transfer Agency. Specify Unit Linked life assurance experience is not needed.


Basics of Unit Linked Life Products and Data Flow

-Product Structure

-Application form and its content

-Policy considerations and content. Policy issue

-Premium payments: Methods and Cleared Funds

-Investment selection and application

-Asset Allocation

-Other Back Office Tasks

-Intermediaries: structure, reporting and commissions

-Policy or Unit encashment

Regulatory Issues in Daily Operations

-Money Laundering

-Luxembourg confidentiality rules

-Policyholder protection

-Qualified fund administration

-Audit rules

-Regulatory Reporting

Business Issues in Daily Operations

-Identification of customer premium payments

-Reconciliation of units in issue

-Calculation of product charges

-Valuation and Pricing mechanisms

-Publication of unit prices

-Asset classification and compliance rules

-Premium data reconciliation. Commision payable accounts

-Reporting of assets under management

-Securities dealing and trading

-Use of pooled investment vehicles

-Corporate consolidation of policyholder data

Regulatory and Business Controls

-Luxembourg banking law

-Luxembourg insurance regulator

-Tripartite agreements

-Asset Compliance reporting

-Audit Controls needed

-Back Office Management

-Unit Valuation, Pricing and Dealing

-Corporate consolidation of Policyholder data

Todays Date:

Duration 1 day
Available as an in-house course

Investment Education PLC
45 Old Hall Road, Manchester M7 4JF, United Kingdom
Tel:+44 (0)161 832 3800
Email: mail@investmentEducation.net
Registered in England Number 2129160
VAT Registered Number GB 480 2112 85

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