Life Trust has unveiled a new retirement product designed to help combat the effects of increasing longevity in the UK.
The Life Trust Longevity Plan is a single premium investment that aims to provide planholders with a rising income for 20 years from age 75 or 80. This is partly funded by the allocation of extra fund units annually on planholders’ birthdays, through the redistribution of the investment funds previously held by other planholders who have died during the previous year. The plan also offers a guaranteed return of investment on death. The money in the plan must be invested for a minimum of 10 years and then on the pre-specified income start date it will begin to pay out annual payments. Th...
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