More money for your life

Article Abstract:

UK life insurance premiums have fallen following competition from direct insurers and this means there are opportunities to save money by changing to a new life insurer. Investors with endowment policies should not switch since they can suffer penalties if they cash in a policy before its maturity. Family income benefit policies pay an income to maintain a family if the policyholder dies. Term assurance pays a lump sum, and pension insurance is tax-efficient, but is only available for people eligible for personal pension schemes.

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Smoothing the markets' rollercoaster ride

Article Abstract:

Cautious UK investors may be suited to with-profits life insurance policies. With-profits policies allocate bonuses in such a way that volatility in the stock market is smoothed out. Investors can choose between single-premium policies with no fixed term, and regular premium policies with fixed terms. Charges affect the size of funds and exit charges can have a big impact, as well as initial charges. A market-value adjuster is applied when the fund is cashed in and the impact of this depends on the fund manager.

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