Policyholder payout at Scottish Widows

Around 1.6 million Scottish Widows policyholders are to get fixed payments of at least £500 each should the group's takeover by LloydsTSB go through. Approximately 900,000 with-profits policyholders are set for extra payments linked to the size, term and type of policy the have. A vote on the proposal of the LloydsTSB takeover will take place on 22 December and if passed there will be a final court hearing on the proposal in February 2000. When this stage is reached the transfer of Scottish Widows to LloydsTSB is expected to go through on 3 March, with qualifying members expected to receiv...