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Windfalls on way to NatMut members

GE Life says qualifying members of National Mutual will receive windfall benefits by the end of the month.

The move will complete the demutualisation of NatMut, which transferred its business to GE Life in April.

Individual members will receive a £500 cheque while scheme members will be recompensed by additional policy benefits.

Qualifying members will have to have had a NatMut policy that was invested wholly or partially in with-profits continuously from when the company first reviewed its status on March 9, 2001 through to April 8, 2002, when its was subsumed into GE Life.

The NatMut name has now disappeared and the enlarged GE Life is making a play for the post-retirement market through IFAs.

Chief executive officer Scott Dolfi says: “This is the last step in the demutualisation and I am pleased we have been able to process the payments so quickly.”

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