Payouts on 25-year endowment policies have dropped below £23,000 for the first time, with the return for saving £50 a month so low savers would have done better in cash.
The figures were in data given to the FSA by Phoenix Group, which runs down old with-profits funds at minimum cost, the Daily Mail reports. At their height, endowments paid out over £100,000 on a similar...
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