CIS with-profits stakeholder launch

By Kira Nickerson Co-operate Insurance Society (CIS) is to launch its stakeholder product with a with-profits fund as the default option and the facility to add waiver of premium and life cover. CIS will offer a choice of funds to invest in including a FTSE All-Share tracker, UK Growth, European Growth, Environ and US Growth funds. However, the with-profits fund will form the central investment option of the CIS stakeholder pension as the group believes the reduced volatility of a smoothed fund will encourage new customers. Tim Bunch, chief actuary at CIS, said: "A with-profi...