MGM Advantage - Flexible Income Annuity
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MGM Advantage - Flexible Income Annuity
MGM Advantage - Flexible Income Annuity
Type: Investment-linked annuity
Aim: Income by investing in a range of actively managed funds, passive funds and a cash fund selected by Old Broad Street Research
Minimum investment: Lump sum £10,000
Minimum-maximum ages: 50, or 55 from April 2010, to 85
Investment choice: Actively managed funds - JPM Cautious Total Return, Jupiter Merlin Growth Portfolio , Newton balanced, passive funds – MGM Advantage cautious portfolio, MGM Advantage balanced portfolio, MGM Advantage adventurous portfolio, cash fund – Insight liquidity fund
Income frequency: Monthly, quarterly, yearly or half yearly
Options: Joint life, guaranteed period of up to 10 years, value protection option which passes up to 100 per cent of initial investment less income to the policyholder’s estate upon death before age 75, enhanced option for smokers or people with a qualifying health impairment, option to move to a fixed income basis at any time but switch back to investment-linked basis not permitted
Charges: Monthly policy charge dependent on value of investment and adviser remuneration, fund charges annual 0.25 to 1.5% depending on fund but rebates of 0.15 to 0.75 per cent depending on fund will reduce the monthly policy charge
Commission: Agreed between adviser and client under customer agreed remuneration menu, extra 0.25% commission for online applications
Tel: 0845 608 6171
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