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url: /glossary/self-invested.md
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## Self-Invested

Management mode of a life insurance contract in which the policyholder decides each switch. Nobody else can change the allocation without a new instruction from the policyholder.

The policyholder can activate automatic options (periodic rebalancing, profit lock-in, loss limit, progressive investment). These options stay in self-invested management when they apply fixed rules and give no discretion to a professional.

Investment in a delegated fund (a profiled fund, or in Luxembourg a dedicated internal fund (FID) or a collective internal fund (FIC)) is not a management mode. The asset manager decides inside the fund, but the policyholder still decides each switch in the contract. Thus, this is self-invested management.

In the API, the management mode is `self-invested`.

Synonyms:

* Self-directed
* Self-managed

*Note*: The term comes from the UK Self-Invested Personal Pension (SIPP).