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Widows updates flexible options bond

Scottish Widows has added three new product features to its flexible options bond.

The new features are 7.5 per cent withdrawals – increasing from 5 per cent – on the total payments into the bond for all new bond business taken out on or after December 11, 2006, a new £100,000 allocation band – at which point allocation rates will increase by 0.5 per cent plus a 0.5 per cent additional initial commission on all paper-based flexible options bond business.

The bond launched in July 2002 and gives access to around 100 internal and externally managed funds including multi-manager choices through Russell Investment Group.

Scottish Widows senior marketing manager, savings and investments Garry McLuckie says: “Scottish Widows is committed to providing IFAs with flexible products that effectively meet their clients’ needs. By developing the features of our flexible options bond we believe that we continue to have one of the most competitive offerings on the market.”

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