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NU launches five-year guarantee on with-profits

Norwich Union is to introduce a five-year money back guarantee on all new with-profits fund investments in its portfolio investment bond.

The change means policyholders are guaranteed their original investment back on the policy&#39s fifth anniversary, regardless of whether markets go up or down and applies to investments made up until the end of the year.

It is also applicable to offshore with-profits investments in the NU international core fund bond and international with-profits bond. An extra 1.5 per cent allocation rate is also being continued on all new investments in the portfolio bond.

NU head of investment product development Neil Davies says: “We are further improving our with-profits bond offering with a guarantee to return investors&#39 money after five years regardless of what happens to the stock market. We understand that capital security is a concern for some investors and we believe this new guarantee will provide them the reassurance they need.”


Prestbury predicts industry staff to fall by 40-50% in 2004

Prestbury Financial is predicting a 40-50 per cent reduction in the headcount in the financial services industry by the end of the year due to a big number of mortgage and protection brokers disappearing from the market. Prestbury believes these changes will allow major consolidation in the sector and it wants appointed representatives of its […]

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House prices up by 12.62 per cent – Land Registry

House prices increased by 12.62 per cent to £163,584 in the last quarter of 2003 compared to £145,251 for the same period in 2002, according to the latest statistics released by the Land Registry. The volume of sales increased by 2 per cent from 295,503 in 2002 to 301,405 for the same period in 2003, […]

Emergency treatment for critical-illness cover

The critical-illness concept looks set to undergo surgery but in what shape will it emerge? Legal & General&#39s recent survey on the future of the market confirmed that IFAs are keen to keep the guaranteed model. Life Policies Direct director Jason King says only 28 per cent of its CI sales since the beginning of […]


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