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MetLife – Freedom Income Plan

MetLife – Freedom Income Plan

Type: Fixed-term annuity

Minimum investment: Lump sum £20,000

Minimum-maximum age: 55-84

Minimum term: Three years

Minimum-maximum income: Income subject to GAD limits

Income frequency: Monthly, quarterly, every four months, half-yearly or yearly

Options: Dependant’s benefits, freedom clause enabling access to pension fund before the end of the term if policyholder becomes ill and qualifies for enhanced terms on a lifetime annuity or if a dependent dies within the term, value protection providing initial investment less any income upon death of policyholder and any dependents, guaranteed period option to ensure the current value of future payments for a period of one month to 20 years, which are paid out as lump sum on death, level or increasing income

Charges: Implicit

Commission:  Initial 3% to 6% depending on length of product term

Tel: 0845 370 6040

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