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Prudential – Income Choice Annuity


Income Choice Annuity

Type: With-profits annuity

Minimum premium: Lump sum £10,000

Minimum age: 50, 55 from April 6, 2010

Income frequency: Monthly, quarterly, half yearly or yearly payment options in arrears or advance

Charges: Implicit

Options: Secure level option providing a minimum income, minimum payment guarantee of up to 10 years, joint life

Commission: Initial up to 3.5% or £500, renewal up to 0.5%

Tel: 0808 234 5100


Split picture for Friends

Friends Provident has posted European embedded value full-year profits of 420m, up from 16m in 2007, but suffered an 871m loss on an international financial reporting standards basis and a 500m deterioration in its capital position since December 2008.

MPs should look again at evidence

I sent my first evidence to the Treasury select committee on February 6. The following Tuesday, February 10, Lord Stevenson, the ex-HBOS chairman, and Andy Hornby, the former chief executive, were cross-examined by the committee about my evidence and denied my allegations.

The bountiful game

I enjoy rugby union but regular tinkering with the rules is confusing and suggests the underlying principles of the game need constant modification. I am a football man and believe simplicity of the rules is its strength. I was thinking of this when I looked at the changes that the Association of British Insurers’ protection committee are making to total permanent disability.


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