Have you a with-profits policy coming to its 10 year anniversary?

[Brendan Burgess]

There is a very interesting article in today's Sunday Times (link anyone?) which says that people with with-profits policies often have the option of cashing them without penalty during a period of around 10 days either side of the 10th anniversary.

These companies include
Hibernian Aviva ( remember the Celebration Bond?)
Commercial General Union Life
Scottish Provident

Hibernian and CGU Life will give customers about 2 months' notice.

There is more information available on www.exitwith-profits.co.uk

 

[DrMoriarty]

With-profits: the get out of jail free card

 

[Brendan Burgess]

A similar article appeared yesterday.

Are brokers who sold these policies reminding their clients of this?

Brendan

 

[Brendan Burgess]

Gerard Sheehy has a good article on the Hibernian Celebration Bond here

And he has another article here on CGNU(GA Life) here.

He suggests putting a note in your diary to remind you of the 10th and 15th anniversary of these products.

Brendan

 

[byrnsey09]

A similar article appeared yesterday.

Are brokers who sold these policies reminding their clients of this?

Brendan

I know Hibernian send out letters to customers (and brokers) reminding them of their 10th anniversary & that they can encash the policy 10 days before & after that date without the MVA applying. They usually send the letter well in advance to give the customer a chance to make up their minds.