PRODUCT GUIDE
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LEGACY
FORMER M&G PRODUCTS
MORTGAGE AND SAVINGS PRODUCTS
Flexible Investment Plan (RPA)
This description is a brief outline of the contract with the rules reference MGP30.
Period Offered
Available to New Business from Feb 1988 until Feb 1994.
Description
A regular premium unit-linked qualifying whole life assurance with a limited premium payment period, between 10 and 25 years. It can be written on a single life, joint life (first and second death) or a life of another basis.
Plans are segmented into separate policies, which must have a minimum premium of £25 per month or £250 per annum; the maximum number of segments is 20.
Death Benefits
The greater of the sum assured and the bid value of the units, on date of valuation.
Charging Structure
Please contact Prudential for details of the charging structure.
Options
These are an outline of options normally available. Please refer to Prudential for options and conditions on an individual policy.
Waiver of Premium
Waiver of Premium could be selected. If the client is unable to work through incapacity for a period of 6 months, further premiums due before the applicable cessation date will be waived. Plan holder can elect at outset to have waiver benefit up to age 60 or 65.
Variation Option
This option allows the premium cease date, the amount of premium and the sum assured to be amended on a policy anniversary date.
There are restrictions to these options please refer to Prudential for details.
Benefit Options at the end of premium payment term
The client can choose one of the following options
Immediate Cash Option
Client can take full bid value of units
Deferred Cash Option
Premium payments stop; client leaves units in chosen funds to be encashed at any time. This was M&G default option.
Nominal Contribution Option
This option allows the planholder to reduce the contributions at the end of the payment period. After a further period of 10 years paying the nominal premiums, tax free partial withdrawals can be taken at any time on request. The current nominal premium amount is £5 p.a. per plan.
This is also known as the Conversion Option.
Extension Option
This option allows the premium payment period to be extended for a further period of not less than 10 years and not more that the original period. This is also known as the Continuation Option.
Mortgage Products
Legacy
Disclaimer
Pension Products
Contact
Protection Products
Investment Products
General
FORMER M&G PRODUCTS MORTGAGE AND SAVINGS PRODUCTS
This description is a brief outline of the contract with the rules reference MGP30.
Period Offered
Available to New Business from Feb 1988 until Feb 1994.
Description
A regular premium unit-linked qualifying whole life assurance with a limited premium payment period, between 10 and 25 years. It can be written on a single life, joint life (first and second death) or a life of another basis.
Plans are segmented into separate policies, which must have a minimum premium of £25 per month or £250 per annum; the maximum number of segments is 20.
Death Benefits
The greater of the sum assured and the bid value of the units, on date of valuation.
Charging Structure
Please contact Prudential for details of the charging structure.
Options
These are an outline of options normally available. Please refer to Prudential for options and conditions on an individual policy.
Waiver of Premium
Waiver of Premium could be selected. If the client is unable to work through incapacity for a period of 6 months, further premiums due before the applicable cessation date will be waived. Plan holder can elect at outset to have waiver benefit up to age 60 or 65.
Variation Option
This option allows the premium cease date, the amount of premium and the sum assured to be amended on a policy anniversary date.
There are restrictions to these options please refer to Prudential for details.
Benefit Options at the end of premium payment term
The client can choose one of the following options
Immediate Cash Option
Client can take full bid value of units
Deferred Cash Option
Premium payments stop; client leaves units in chosen funds to be encashed at any time. This was M&G default option.
Nominal Contribution Option
This option allows the planholder to reduce the contributions at the end of the payment period. After a further period of 10 years paying the nominal premiums, tax free partial withdrawals can be taken at any time on request. The current nominal premium amount is £5 p.a. per plan.
This is also known as the Conversion Option.
Extension Option
This option allows the premium payment period to be extended for a further period of not less than 10 years and not more that the original period. This is also known as the Continuation Option.
