My understanding is that you can do either.
The 1%+ management charge mentioned is taken from the fund or the "profits"?
Thanks
I am absolutely disgusted with Cornmarket. Last week my daughter, who is a teacher, told me a Cornmarket rep was tormenting her to take out an AVC. He is constantly visiting the school and calling her on her mobile. It is pure pressure selling. Thanks to this forum I have advised her not to sign up. I have always been suspicious of Cornmarket. Some years ago when my daughter was young and just qualified, on the advice of her union rep, they sold her a salary protection policy on which I am now seeking further information. If, as I expect, the product is riddled with high charges can it be cancelled without loss?
i wouldnt advise your daughter to cancel her income protection the charge is the same for all teachers young or old and its a % of there salary. so the young teachers make the scheme viable. she can get better value on the avc's if she shops around. She would find it hard to get an income protection policy privately with as much cover for less then the union scheme.and if the worst happened and she had to claim at least she'd have the union to support her if the insurance company started acting up about paying out.
mula
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