PRODUCT GUIDE
Mortgage Products
Legacy
Disclaimer
Pension Products
Contact
Protection Products
Investment Products
General
LEGACY
FORMER M&G PRODUCTS
MORTGAGE AND SAVINGS PRODUCTS
Variable Investment Plan
This description is a brief outline of the contract with rules reference MGP11/13/17/19/23/25.
Period Offered
Available to New Business from 1981 to 1984.
Description
This contract is a unit-linked, qualifying endowment assurance issued as a single policy. It could be written on a single life, joint life (first & second death) or life of another basis.
It was designed to build a fund for either a tax free lump sum or income after a term of 10 to 25 years.
Plans are segmented into separate policies, which must have a minimum premium of £20 per month or £240 per annum. The premiums could be paid monthly, quarterly, half yearly or annual. The maximum number of segments is 20.
Death Benefits
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
Not available on this plan.
Whole of Life
The plan can be converted to a Whole of Life basis with a nominal premium payable. This option is normally available 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 surrenders or withdrawals are only available after this option has been taken.
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 than the original period.
Maturity Option
There are various options available at maturity to take a tax-free cash sum option or a tax-free income (This option is only available after the plan is converted to a Whole of Life basis) or alternatively, an extension option. The tax-free cash sum option is the default option , and if the policyholders instructions are not received by the maturity date, the other options cannot be exercised. 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 rules reference MGP11/13/17/19/23/25.
Period Offered
Available to New Business from 1981 to 1984.
Description
This contract is a unit-linked, qualifying endowment assurance issued as a single policy. It could be written on a single life, joint life (first & second death) or life of another basis.
It was designed to build a fund for either a tax free lump sum or income after a term of 10 to 25 years.
Plans are segmented into separate policies, which must have a minimum premium of £20 per month or £240 per annum. The premiums could be paid monthly, quarterly, half yearly or annual. The maximum number of segments is 20.
Death Benefits
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
Not available on this plan.
Whole of Life
The plan can be converted to a Whole of Life basis with a nominal premium payable. This option is normally available 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 surrenders or withdrawals are only available after this option has been taken.
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 than the original period.
Maturity Option
There are various options available at maturity to take a tax-free cash sum option or a tax-free income (This option is only available after the plan is converted to a Whole of Life basis) or alternatively, an extension option. The tax-free cash sum option is the default option , and if the policyholders instructions are not received by the maturity date, the other options cannot be exercised. Please refer to Prudential for further details.
