For an offshore investment policy or savings plan held by an expat, a good starting point is the documents you received when the policy was set up, especially the key features document, the personal illustration and the terms and conditions, compared with your latest transaction statement. If anything is unclear, you may ask the provider in writing for a breakdown of the costs on your policy and in your funds. As the policyholder you are entitled to understand what you are paying, and providers generally handle these requests routinely.

Why charges are hard to see

Offshore investment policies and savings plans are often expensive and frequently sold with high upfront commission, which is why the value can look lower than what was paid in. Costs are usually spread across more than one layer:

  • The policy itself, set by the life company.
  • The funds inside the policy, each with its own ongoing costs.
  • Adviser remuneration, which may be paid through the policy.
  • Transaction costs, such as dealing or switching.

Because costs come from different places and are often taken from the policy rather than billed to you, they rarely appear as a single annual figure. That is why working through the documents carefully matters.

The documents to find

Gather as many of these as you can:

  1. Key features document. Summarises how the policy works, including how costs apply.
  2. Personal illustration. Shows projected values based on your premiums and the provider's assumptions at the time. Comparing it with your real values can help, bearing in mind that illustrations are not forecasts.
  3. Terms and conditions. The full contract. It sets out what can be charged and when.
  4. Fund factsheets. Show each fund's ongoing costs.
  5. Transaction statement. Available from the provider and often online, this lists premiums paid, deductions, switches and withdrawals.

If you cannot find the original paperwork, the provider can usually send copies. Many providers' online services also show a policy summary, valuation and transaction history.

Questions to ask the provider

Put your questions in writing so the answers are on record:

  • What are all the charges that apply to my policy, and how are they taken?
  • What have I paid in total, in money terms, over the last 12 months and since the start?
  • What are the ongoing costs of each fund I hold?
  • Is any adviser remuneration being paid from my policy, and is it ongoing?
  • Do any early surrender terms apply, and until when?
  • Are any charges linked to a period that has already ended?

Asking for figures in money rather than only percentages makes them easier to understand and compare. For background on how these plans are generally structured, see our guide to this type of offshore policy.

Comparing cost with what you get

Cost is only one part of the picture. A higher-cost arrangement may still be reasonable if it provides something you value, such as ongoing advice or particular features. What matters is whether you understand what you are paying and what you receive in return.

Points worth weighing:

  • Are you receiving ongoing service for any ongoing adviser remuneration?
  • Are your funds still suitable for your goals and attitude to risk?
  • How does the policy's total cost compare with other ways of investing the same money, given your tax position now and where you may live later?

Worked example

Illustrative example only, not a real client.

David has had an offshore investment policy for eight years. He knows roughly what he paid in but has no idea what it costs. He downloads his transaction statement from the provider's online service, finds his original key features document, and emails the provider asking for every charge in money terms for the last year and since the start, plus the ongoing costs of each fund.

The reply shows several layers of costs he had not fully appreciated, and that some ongoing adviser remuneration is still linked to the policy, although he has not had a review in years. With the figures in hand, he arranges an independent review to look at whether the policy still suits him, and what his options might be depending on his circumstances and the policy's terms.

If you cannot get clear answers

If the provider's reply is incomplete, ask again and refer to the specific documents. If you remain dissatisfied, raise a formal complaint with the provider. The Central Bank of the UAE supervises the UAE insurance sector, and for insurers it licenses, Sanadak may be able to consider unresolved complaints once the company has had the chance to respond. Insurers based in other jurisdictions set out their own complaints routes in their policy documents.

Common mistakes

  • Looking only at fund performance and ignoring policy-level costs.
  • Assuming charges stop once the adviser who arranged the policy has left.
  • Relying on percentages without asking what they mean in money terms.
  • Surrendering in frustration before getting the full picture.

Sources and further reading

Request a free independent policy review from a regulated financial adviser to understand your charges, your figures and your options.

Last reviewed: October 2026. Tax year: 2026/27. Jurisdictions covered: UAE, UK. Rates, legislation and guidance change, so recheck before relying on this. Rules can differ between England and Wales, Scotland and Northern Ireland; tax residence is fact-specific; treaty outcomes depend on residence, domicile or nationality provisions; examples are simplified and omit reliefs, costs, exchange rates and anti-avoidance rules. This is general information, not financial, tax or legal advice. Take advice in the relevant country before acting.