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Liverpool Victoria imposes 14 per cent MVA

Liverpool Victoria has imposed an MVA of up to 14 per cent following increased levels of withdrawals from its with-profits funds. The MVA affects single premium policies taken out between September 1998 and June 2002 where the original premium was over £10,000. It says the action was necessary to protect the fund and hope to lift the temporary measure as soon as conditions change. It was previously one of the only companies along with Standard Life not to impose an MVA.

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