Thanks Conan. That's re-assuring to know that the average normal person who had some money to put away is not considered a bondholder to be burned!
I guess it's just anyone who bought government bonds who is at risk of being burned? Hopefully Irish Life didn't buy any of those with my money.
Farmerette, I think you might be right. I would shop around more thoroughly next time... I just went with this Irish Life because they told me that my initial investment was gaurenteed. They also told me while they couldn't gaurantee what return I would get, that this particular fund was returning an average of 10%...