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R&SA raises age limit on bond

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&#39 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.”

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