Clients can choose between a Deposit Plan, an Investment Plan, or a combination of the two.
All Plans come with Value Protection lump sum death benefit as standard and also offer Financial Services Compensation Scheme (FSCS) cover which will vary depending on the combination of Deposit/Investment Plans chosen.
If income is chosen at outset, a further option is available to switch income off and back on again as required, giving further flexibility.
Unless the client has chosen to reduce their fund to zero at the end of the term with a maximum income level, all Plans provide a maturity lump sum at the end of the chosen term that is fixed and known at outset.
Once a term is chosen and the Plan has started, it cannot be surrendered until the end of the term.