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GE Life adds options with FTSE100 plans

GE Life is rolling out the second of its growth option plans offering

a return of up to 200 per cent of the increase in the FTSE 100 index

over six years.

Available in two versions, both paying out on June 1, 2009, the first

offers capital protection returning the higher of 100 per cent of the

initial investment or the initial investment increased by 70 per cent

of the percentage change in the FTSE 100 over the term.

The second version offers no capital protection but returns up to 200

per cent of the rise in the FTSE 100 index subject to a maximum

increase of 100 per cent of the initial investment.

Under the latter option, investors will not get all their capital

returned if the index falls below 50 per cent of its initial value in

the last five years of the plan and the final level is lower than the

initial level of the index. In this case, the capital repayment will

be reduced by 1 per cent for every 1 per cent the final level is

lower than the ini-tial level.

Project manager Simon Little says: “The product specification of this

plan is based on feedback we received from IFAs from the first growth

plan launched last October. We decided to keep the link with the FTSE

100 because IFAs said clients preferred an index they were familiar

with. We think the plan will be suitable for Ssas and Sipp clients,

with the six-year term sitting well with the income-drawdown

triennial review.”


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