View more on these topics

Axa Life Invest launches inheritance drawdown option

Axa Life Invest has launched an income drawdown option which allows policyholders to protect the amount they pass onto dependents if they die before age 75.

The plan, Protect75, can be taken out by anyone with a SecureAdvantage+ pension.

It carries an annual charge of 0.15 per cent of the pension value, and requires no underwriting or medical evidence.

Axa says if the value of the policyholder’s income drawdown at the time of their death is worth less than the amount they originally invested, Protect75 pays out a lump sum equivalent to the lost value, minus any withdrawals they have taken.

The option has been launched in response to the Government’s move to abolish the 55 per cent inheritance tax that applies to defined contribution pension pots left by those aged 75 or over, and to pensions in drawdown. The change also applies to value protected annuities.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com