New product: No load saving plan?

As a consultant, I will be advising new clients (insurance companies) to introduce a "no load" insurance savings plan.

What are the features of this plan?

- can be an endowment or investment-linked plan
- 100% of the premium will be invested
- customers can buy this product directly
- advisers will be paid a salary plus a modest incentive
- a policy fee will be levied to cover the expenses

This product can offers a better return compared to bank deposits or unit trusts. Over a 20 year period, it should provide 10% to 30% more than similar products in the market.

How is this possible? The savings come from:

- higher productivity
- lower expenses
- less effort taken to market the product
- most customers will want to buy the product for their future financial planning
- existing customers will introduce their friends
- insurance advisers will be happy to earn a fixed salary plus incentives, i.e. the income is more predictable.