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Phoenix Life implement new Terminal Bonus rates for Scottish Provident and Scottish Mutual.

Phoenix Life have implemented have implemented new Terminal Bonus rates for Scottish Provident and Scottish Mutual Life Products. 

Scottish Provident
Inception Previous Rate   New Rate  
Year Attaching Bonus Sum Assured Attaching Bonus Sum Assured
2005 63.00% 63.00% 61.00% 61.00%
2000 77.00% 77.00% 83.00% 83.00%
1995 65.00% 65.00% 64.00% 64.00%
1990 48.00% 48.00% 46.00% 46.00%

In respect of Scottish Provident for policies taken out in 1990, the Terminal Bonus rate was 48% and is now 46%, which shows a decrease of 4.1%.

For Scottish Mutual, the 25-year Terminal Bonus rate was 56.70% and is now 74.10%, showing an increase in excess of 30%.

Scottish Mutual
  Previous Rate   New Rate  
Term Attaching Bonus Sum Assured Attaching Bonus Sum Assured
10 0.00% 0.00% 12.90% 12.90%
15 23.90% 23.90% 26.50% 26.50%
20 42.90% 42.90% 49.90% 49.90%
25 56.70% 56.70% 74.10% 74.10%

This information should not be relied upon and is not intended as a financial promotion.

SL Investment Management Ltd can buy conventional with-profit endowment policies only and cannot buy unitised or unit-linked policies presently.

This is for information purposes only.                                    

 SL Investment Management Ltd acts on an execution only basis and offers no advice on the suitability of the sale of any endowment policy.

 All data sourced through our regular monitoring of UK Life Company bonus announcements and variations. Endowment Policies attract a Terminal Bonus - an additional bonus paid to reflect the overall performance of a with-profits life assurance policy at maturity or prior death of the life assured - on either the Sum Assured, the Reversionary Bonus or Both, as above.

Surrenda-link is a trading name of SL Investment Management Ltd which is Authorised and Regulated by the Financial Conduct Authority. SL Investment Management Ltd is a registered company in England and Wales. Registered at One City Place, Queens Road, Chester, CH1 3BQ, UK. Registered No. 02485382. SL Investment Management Ltd is a founding member of the Association of Policy Market Makers.

 

                                                

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