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New life insurance product launched

Date: Tue, 11 Apr 2006

New guaranteed lump sum life insurance products could help boost demand for similar polices.

Insurance provider Norwich Union has launched a new life insurance policy that offers a guaranteed cash lump sum that is not linked to investment performance. The company believes that the new product could help many people ease the burden of inheritance tax on loved ones.

The Guaranteed Whole of Life product is also suitable for businesses with the option of a so-called "key man" clause – which insures an individual who is vital to the operation of the firm and in the event of that person's death the business will receive a payout to ensure its short-term survival.

"We have carried out extensive research with both financial advisers and customers and created a flexible product to meet people's needs," said Louise Colley, head of protection at Norwich Union.

"Guaranteed Whole of Life can be used in many different ways, such as IHT and business planning in addition to offering protection for dependants."


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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.