PRODUCT GUIDE
Mortgage Products
Legacy
Disclaimer
Pension Products
Contact
Protection Products
Investment Products
General
LEGACY
FORMER M&G PRODUCTS
MORTGAGE AND SAVINGS PRODUCTS
Maximum Investment Plan
This description is a brief outline of the contract with the rules reference MGP26.
Period Offered
Available to New Business from 1984 to 24/02/88.
Description
This contract is a unit-linked, qualifying endowment assurance. It could be written on a single life, joint life (first & second death) and life of another basis.
It was designed to provide either a tax free lump sum or income after a term of between 10 and 30 years.
Plans are segmented into separate policies, which must have a minimum premium of £20 per month or £240 per annum. Premiums could be paid monthly, quarterly, half yearly or annually. The maximum number of segments is 20.
Death Benefit
The greater of the sum assured and the bid value of the units.
Charging Structure
Please contact Prudential for details of the charging structure.
Options
These are an outline of options, which were 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 would be waived. Plan holder can elect at outset to have waiver benefit up to age 60 or 65.
Whole of Life
The plan can be converted to a Whole of Life basis with a nominal premium payable. This option is available on maturity or after 10 years premiums have been paid. The plan will have a revised sum assured of the total premiums payable from the option date to life assured's 75th birthday. Partial surrender or withdrawals are only available once this option has been taken.
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.
Maturity Option
There are various options available at maturity, to take a tax-free cash sum or a tax-free income (only available if the plan has converted to a Whole of Life basis) or alternatively there is an extension option. Please refer to Prudential for further details.
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 MGP26.
Period Offered
Available to New Business from 1984 to 24/02/88.
Description
This contract is a unit-linked, qualifying endowment assurance. It could be written on a single life, joint life (first & second death) and life of another basis.
It was designed to provide either a tax free lump sum or income after a term of between 10 and 30 years.
Plans are segmented into separate policies, which must have a minimum premium of £20 per month or £240 per annum. Premiums could be paid monthly, quarterly, half yearly or annually. The maximum number of segments is 20.
Death Benefit
The greater of the sum assured and the bid value of the units.
Charging Structure
Please contact Prudential for details of the charging structure.
Options
These are an outline of options, which were 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 would be waived. Plan holder can elect at outset to have waiver benefit up to age 60 or 65.
Whole of Life
The plan can be converted to a Whole of Life basis with a nominal premium payable. This option is available on maturity or after 10 years premiums have been paid. The plan will have a revised sum assured of the total premiums payable from the option date to life assured's 75th birthday. Partial surrender or withdrawals are only available once this option has been taken.
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.
Maturity Option
There are various options available at maturity, to take a tax-free cash sum or a tax-free income (only available if the plan has converted to a Whole of Life basis) or alternatively there is an extension option. Please refer to Prudential for further details.
