Charge map (study layer)
Typical directions: initial/subscription-related charges, account/management fees, cost of insurance, fund-level expenses, surrender charges. Names and maths sit in product docs—learn where fees bite and when they hurt most.
Liquidity reality
Long-term designs rarely suit short cash needs. Partial withdrawals, surrender values and lock-ins can make paper value ≠ spendable cash. HNW planning should separate liquidity from ILAS.
Study tips
- List possible deductions for an early exit after three years