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Once again, who can beat WP?

Brian Newbould&#39s offering entitled, Rough on the smoothing (Money Marketing, August 30) is infantile.

I would once again ask the question “Who can beat the returns on with-profits?” Certainly, regular-premium contracts have no long-term equal.

I have been around 30 year, I have sold policies and I have seen them mature. I have taken the Consumers&#39 Association and the press to task on more than one occasion over those 30 years and have yet to find anyone who will answer the question “Who can beat the returns on with profits?” The question is simple enough.

For Brian Newbould to swing off at a tangent and accuse “the life insurance industry” indirectly of misplacing £40bn may be a very inventive way of deflecting the stark focus of the question but with those policyholders that I have case histories for consistently returning in excess of 12 per cent per annum compound on each premium paid after charges and ignoring LAPR, Brian, what are you talking about?

I can show you unit-linked contracts that people bail out of because they need money.

Similarly, one is inclined to a “class action” against media incompetence similar to that currently exhibited in relation to Equitable Life in advising people that the product that they have in their possession is poor value.

Brian Newbould, of Skandia Life, stand up and tell the nation: “Who can beat the returns on with-profits?” When you can answer that question directly then we shall all know that the value of a contract is seeing it through to its conclusion.

Because you can&#39t join the club, Brian, does not mean you and others like you can&#39t acknowledge its worth.

Terence O&#39Halloran

O&#39Halloran & Co,



Clerical applies MVA on with-profits fund

Clerical Medical has imposed a market value adjuster of 7.5 per cent on encashments of more than £50,000 from its with-profits fund. It is blaming continuing stockmarket falls, saying the trigger point for an MVA review was breached some time ago. The MVA will apply to the excess over £50,000 on withdrawals from its with-profits […]

Website offers professional links

My Money Adviser is launching a website that allows IFAs to expand their internet presence through sites that share branding with professional partners such as lawyers and accountants. The MultiSite enables IFAs to co-brand ecommerce sites with third parties, allowing the IFAs partners to refer their clients to the adviser&#39s site, giving access to My […]

Inside Edge

Over the last few weeks, I have been meeting with our major life company partners to review business achievements and to discuss matters for the next year with our commercial director and head of research. These have been open and frank business meetings and it is good to see we all have matching weaknesses and […]

Brian Duffin

Born: January 20, 1955, Enniskillen, Co Fermanagh. Lives: Edinburgh, with wife Joan and three sons. Education/qualifications: St Katherine&#39s College, Cambridge (BA Hons maths), member of Faculty of Actuaries. Career: 1976 joined Scottish Life as actuarial trainee, 1983 made investment manager, 1988 general manager (marketing), 1995 general manager (administration), 1996 director of Scottish Life International Holdings, […]


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