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High-street fixed life insurance bond launched

Date: Thu, 20 Apr 2006

A single premiums life insurance plan has been launched by a high street provider.

Abbey has launched its eleventh New Abbey Guaranteed Income Bond which offers a guaranteed fixed income of 3.84 per cent net or 4.8 per cent gross each annum. Interest will be paid at 3.84 per cent net if received on a yearly basis, or 3.76 per cent if received monthly or quarterly.

The bank claims the product is the only mainstream single premium life insurance plan which offers such an assurance of fixed income.

The plan has a minimum required investment of £5,000 and a maximum of £250,000, with the full return of capital as long as the bond is held for a complete four-year term.

"Our new Guaranteed Income Bond is expected to appeal to people looking for capital security at maturity and the certainty of a regular income for the next four years," said Pak Chan, head of investments marketing for Abbey.



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Endsleigh Insurance Services Limited is authorised and regulated by the Financial Services Authority. This can be checked on the FSA Register by visiting its web site at www.fsa.gov.uk/register.
Endsleigh Insurance Services Limited. Company No: 856706 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.