Chameleon: ILAS and Its International Identities

ILAS products are called different names in different countries, but the high commissions lead to mis-selling everywhere the products are sold. I believe ILAS’s plethora of names has been an obstacle to the creation of an international movement against it. Here’s why: When Hong Kong victims do a Google search for ILAS, they won’t find any results about “variable annuities” in America, and even if they did come across the term “variable annuity” in a search result, most victims would not realize that it is referring to basically the same product as ILAS.

Below is a collection of other names for ILAS that I’ve come across. Local victims would benefit by becoming informed about these different names so that they can more effectively research online to learn how victims in other countries have successfully fought for justice. You can email me if I missed any names that need to be added to this list.

  • Investment-Linked Assurance Scheme (ILAS)
  • Unit-Linked Life Insurance
  • Variable Annuity
  • Unit Linked Insurance Plan (ULIP)
  • Private Placement Life Insurance (PPLI)
  • Endowment Policy
  • Insurance Wrapper
  • Tax Wrapper
  • Offshore Pension
  • Offshore Bond
  • Insurance Bond
  • Investment Bond
  • Unit-Linked Bond

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