These products may contain only a small percentage of actual life insurance cover and are marketed predominantly as investments. Most people with this kind of policy probably regard it as an investment rather than insurance.

Although the investor may not be overly interested, to the regulator (and the regulatory lawyer) the precise diving line between an insurance product and an investment one is all important. It will determine the capital requirements placed on the manufacturer of the product and the rule book that governs its marketing and local operation.