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Widows adds income plan after taking £284m

Scottish Widows is offering a second version of its extra income & growth plan.

The new plan follows the success of the original plan which took more than £284m in six weeks, closing on December 6.

The extra income and growth plan 2 offers income of 10.25 per cent a year or overall annual growth of 33 per cent.

As with the original version, the second plan will invest in Waverley Stockmarket growth, with no change to the stock selection underpinning the plan.

But, unlike the original plan, the new plan is not open to Pep or Isa transfers. The offer period runs until December 21.

Widows says the product is suitable for investors looking for a high level of inco
me during a low period of interest rates who are willing to accept a level of capital risk.

Head of IFA marketing Bob Gibson says: “We are delighted with the response to our initial plan. Having raised more than £284m in the space of six weeks, we believe this is the most successful structured plan launched in the UK.”

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