How to read an international investment policy valuation.
A valuation is a useful snapshot, but it does not answer every question about what a policy has earned, what it costs or how much cash is immediately accessible. Here is a practical way to read it before requesting a second opinion.
1. Confirm the valuation date and currency
Market prices and exchange rates change. Check the date shown on the statement, the currency in which values are displayed and whether any foreign-currency positions are converted for reporting. Comparing valuations from different dates or currencies without adjustment can create misleading impressions.
2. Separate premiums paid from current policy value
A policy's current value is not the same as the sum of premiums paid. Top-ups, skipped contributions, withdrawals, charges and investment changes may have occurred. If you want to assess your personal return, gather transaction dates and amounts rather than subtracting only the earliest balance from the latest one.
3. Understand units, funds and cash
Investment-linked policies often report units held in underlying funds and the unit price at the valuation date. The multiplication helps explain the fund value, but additional policy-level adjustments may still apply. Some statements also show a cash holding or a separate reserve; identify what each line represents.
4. Look for policy, adviser and fund costs
Charges can be reflected in different places: explicitly as transactions, deducted at policy level, or embedded in fund pricing. The absence of a visible fee line does not by itself mean an investment is free of costs. Compare the original policy schedule with current charging information and any separate adviser agreement.
5. Do not confuse valuation with surrender value
The value shown for investments may differ from the amount payable after a full surrender. Early exit provisions, underlying asset liquidity and contractual conditions can affect the outcome. Ask the provider for a written quotation before deciding to terminate or withdraw from a plan.
6. Questions worth asking before a review
- What is the exact product name, issuer and issue date?
- How much have I contributed, and on which dates?
- What have I already withdrawn or switched between funds?
- Which charges and restrictions actually apply to this policy?
- What would I receive if I withdrew today, and what would I give up?
Redact sensitive identifiers before sharing.
For a preliminary review, remove unnecessary account numbers, identity details and addresses from a copy of the valuation. Never send login credentials or identification documents through an enquiry form.
Explore a fees and performance review, withdrawal options, or a second opinion on your adviser.
This general guide does not replace the policy terms or personalized financial, legal or tax advice.
