Royal & Sun Alliance is raising the maximum age limit on its with-profits bond from 79 to 84.
It says the move follows demand from IFAs looking for low-risk investments for older clients. R&SA is running an L-Plate Investors campaign designed to encourage investors to take advice.
It says the bond is for clients who want better returns than traditional deposit-based savings but without the risk of direct investment into stocks and shares.
Minimum investment is £5,000 and maximum £1m. The return since launch three years ago has been 10.7 per cent a year, net of basic tax.
Market manager (savings and investments) Mark Edwards says: “An increasing number of IFAs have been requesting practical solutions to their older clients' dilemma of needing better returns without a substantial increase in risk. They also need to maintain their standards of living with real returns ahead of the rate of inflation.”