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Beale Dobie offers free guide to with-profits

Traded endowment policy market-maker Beale Dobie is offering a free guide which explains how with-profits endowment policies work.

The guide, called Und-erstanding the Mechanics of a With-Profits Endow-ment, helps intermediaries explain with-profits endowments to clients.

It also sets out terms associated with the products. The guide looks at the differences in reversionary and terminal bonuses as well as how they are paid.

Beale Dobie says in the guide that it can pay policyholders on average 15 per cent more if they sell their policy rather than surrender it and claims that around 1,000 people a week lose £1,000-£1,500 because they surrender their policy rather than sell it.

Investment manager Tracey Merritt says: “With-profits endowment policies remain a mystery to many people, sometimes bec-ause different life offices use different terms to des-cribe the same thing. The guide simplifies these statements, as well as exp-lain how bonuses work, so people will be in a better position to understand their annual statements.”

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