GE Life has launched a high income and growth plan that pays a fixed annual income of 10.25%. Design...
GE Life has launched a high income and growth plan that pays a fixed annual income of 10.25%. Designed for those over 50, the product gives investors the flexibility to take a monthly or annual income, or invest for growth with a return, after three years and two months, of 33%.
The plan is linked to the performance of the Dow Jones Euro Stoxx 50 index, which is comprised of blue chip firms in the eurozone of Continental Europe. The offer period runs from 2 April to 11 May.
In July 2004, investors will receive 100% of their initial investment if the index has not fallen at any point by more than 20% during the term of the investment, or if the final index level is no lower than the initial index level. It gives investors an income of 10.25% a year, or 0.78% per month, or 33% at the end of the investment term.
Future Value Consultants has given it a score of eight out of 10 for basic rate and higher rate tax-payers.
David Evans, the managing director of GE Life, said: "This product gives investors the opportunity to use their Isa allowance for tax free investment. If they have already used their Isa allowance, it still offers attractive tax efficient benefits."
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