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MGM Advantage – Flexible Income Annuity

MGM Advantage – Flexible Income Annuity

MGM Advantage – Flexible Income Annuity

Type: Investment-linked annuity

Aim: Income by investing in a range of actively managed funds, passive funds and a cash fund selected by Old Broad Street Research

Minimum investment: Lump sum £10,000

Minimum-maximum ages: 50, or 55 from April 2010, to 85

Investment choice: Actively managed funds – JPM Cautious Total Return, Jupiter Merlin Growth Portfolio , Newton balanced, passive funds – MGM Advantage cautious portfolio, MGM Advantage balanced portfolio, MGM Advantage adventurous portfolio,  cash fund – Insight liquidity fund

Income frequency: Monthly, quarterly, yearly or half yearly

Options: Joint life, guaranteed period of up to 10 years, value protection option which passes up to 100 per cent of initial investment less income to the policyholder’s estate upon death before age 75, enhanced option for smokers or people with a qualifying health impairment, option to move to a fixed income basis at any time but switch back to investment-linked basis not permitted

Charges: Monthly policy charge dependent on value of investment and adviser remuneration, fund charges annual 0.25 to 1.5% depending on fund but rebates of 0.15 to 0.75 per cent depending on fund will reduce the monthly policy charge

Commission: Agreed between adviser and client under customer agreed remuneration menu, extra 0.25% commission for online applications

Tel: 0845 608 6171

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