Common questions

Self-invested personal pension (SIPP) and small self-administered scheme (SSAS) trustees or administrators can buy this plan. They'll be the owner of the plan.

At least one life assured must be a scheme member.

The trustees must have an insurable interest in the lives assured.

If you select our guaranteed capital option or guaranteed income option, there’s no minimum age for the life assured.

If you select our guaranteed lifetime income option, the younger life assured must be at least 45 years old.

The maximum age the youngest life assured can be when taking the plan out is 74 years old.

Yes – the minimum is £15,000.

Investment amounts over £1 million will be dealt with on a case-by-case basis.

You have the choice of three different guarantees and if you select one of these you’ll then have the choice of our guaranteed death benefit.

Our guarantee options page gives you more details.

We guarantee at the end of your capital guarantee term your fund value will be at the very least equal to your original investment. Our guaranteed capital option page gives you more details.

Your capital is only guaranteed on the agreed term date and not at any point before or after. At other times the fund value can fall as well as rise and isn't guaranteed.

Our guaranteed death benefit option page gives you more details.

We guarantee to pay you an income of 5% a year of your original investment for 20 years no matter how your investment performs. Our guaranteed income option page gives you more information.

With the guaranteed income option, the fund value can fall as well as rise and isn't guaranteed.

Our guaranteed death benefit option page gives you the details.

We guarantee to pay an income stream into your scheme until the last person covered by the plan dies. Our guaranteed lifetime income option page gives you more details.

With the guaranteed lifetime income option, the fund value can fall as well as rise and isn't guaranteed. 

How much we pay depends on the age of the younger life assured when you start to take guaranteed lifetime income payments.

Our leaflet A guaranteed income to rely on sets out our current rates.

Our guaranteed death benefit option page gives you the details.

From the younger life assured’s 55th birthday.

Yes, but you should be aware that withdrawing money will proportionately reduce the guarantees on your plan.

Any withdrawals or guaranteed income payments will be paid back to the scheme. It’s the trustees’ responsibility to make sure any payments then paid out are within the limits set by HM Revenue & Customs.

Our investment choice section gives you all the details.

We’ll clearly set out all the charges in your personal illustration. Your financial adviser will give you this before you decide if you want to take the plan out.

In the meantime, you can find out more information in the charges section.

Each year we’ll issue a yearly statement. You can have a further three statements each plan year, free of charge.

If you want to make additional payments, we’ll set up a new plan for you.