Kaori Life is the first life insurance contract created by a charitable structure in France, namely Secours Catholique, Caritas France. While the practice is quite widely developed in the United States with a certain number of investment funds and structures involved in these areas, it is new at the national level.
Kaori Vie was set up by associating four operators :
- the Kaori association, created by Secours CatholiqueCaritas France, and having only members of the work on its Board of Directors, without any insurer, financier, asset manager, or broker,
- the association Asac Fapesacting through its captive brokerage firm, Fapes Diffusion, in charge of the marketing and management of the contract,
- Generali France life insurer which both carries the product and provides three funds in euros: Eurossima (classic euro fund), Netissima (real estate fund in euros), Générations Crois@nce durable (eurocroissance fund),
- the Amadeis management structurewhich contributes to the research and selection of units of account proposed in the contract in line with the values of the Kaori association on the one hand, and which advises the six profiled management profiles (“management under collective mandate”) to available to members.
The first issue for Secours Catholique by embarking on the adventure of creating an association of savers and a life insurance contract is allow people in its environment (including its donors, even its testatories) to have a life insurance policy in line with the values that Caritas France promotesboth for current and future generations, namely:
- the respect of environmentthe promotion of responsible ecology, the rational consumption of natural resources…
- respect for humansthe promotion of equality between men and women, the opening of access to education, training and health for everyone,
- promoting sound governance in our economies and businesses, filtering the investments made through real ESG qualities.
Kaori Vie obviously does not claim to want to change the world, nor the functioning of our economies and our businesses. Kaori Vie aims to contribute to giving inflections Firstly and to support initiatives in line with the values of Caritas Franceon the other hand.
Concretely, Kaori Vie is a multi-support multi-manager life insurance contract reachable from €500 down payment at subscription. The contract can then be fed by the member through free payments from €250 and/or of scheduled monthly payments with a threshold minimum of 50 €.
Kaori Vie offers both classic management methods for a multi-support life insurance contract, namely:
- free management with a range of 26 heritage units of account classics from 19 reference management companies of the market (Sycamore, Ecofi, Comgest, etc.) including:
- 14 Equities management,
- 6 bond managements,
- 4 profiled managements,
- 1 Flexible management,
- driven management with six collective management mandates managed by Amadeis, giving rise to an additional billing of 0.30% on the units of account concerned, and positioned around themes consistent with Kaori Vie:
- Kaori Priority Land Balanced or Dynamic,
- Kaori Priority Humans Balanced or Dynamic,
- Kaori Priority Exemplary Balanced or Dynamic.
Main assets of Kaori Vie
- Quality of the selection of the range of units of account proposed in the contract, this outperforming its benchmark with regard to the Good Value for Money database, both:
- on a year (2021): +0.28%,
- on three years (2019-2021): + 1.89% per year on average,
- on five years (2017-2021): + 1.46% per year on average.
- Contract benefiting from a no entry fee on payments andcompletely free arbitrations.
- Integration into the assembly of the Asac Fapes contract which benefits from know-how, history and legitimacy in this area.
- Relatively accessible contract for savers with an entry threshold of €500 minimum initial payment.
- Associative contract managed by the Kaori association, which we suspect will ensure compliance with ethics and the positioning of the product over time..
Main disadvantages of Kaori Vie
- Severe constraints on access to funds in euros from the Netissima and Eurossima contract.
- Need for Amadeis to prove itself in the management of the mandates entrusted by the Kaori association.
- Relatively complicated terms and conditions for a contract aimed at the general public.
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