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AEGON Secure Lifetime Income

The finer detail

Here you can find the answers to the questions you may have about AEGON Secure Lifetime Income. If there's anything we haven't covered, please speak to your financial adviser.

What are the guaranteed income amounts?

The amount we pay is based on how much you invest and what age you are when you start to take your income payments. The table below shows this.

Age when income starts Guaranteed income %
75 to 79 5%
70 to 74 4.5%
65 to 69 4%
60 to 64 3.5%

When can I start taking my guaranteed income payments?

Any time from age 60.

How often can I take my guaranteed income payments?

Monthly, quarterly, twice a year or once a year.

Will there be any tax to pay on my income payments?

The income you receive from your original investment, before any increases, will be tax-free for life. Your financial adviser will be able to give you more information.

Are there minimum and maximum amounts I can invest?

Yes - the minimum is £15,000 and the maximum is £1 million.

How old do I have to be to take out a plan?

At least 45 and no older than 79 on your last birthday.

What are the death benefits?

When you die, we guarantee to pay your estate the higher amount of either:

  • your original contribution less any income you've already received, or
  • 100.1% of the cash-in value of you plan

Please remember that if you've received more money in income payments than you originally invested and the cash-in value is zero, there'll be no benefits to pay.

When will you check my plan to see if its value has increased?

We'll review your plan every year on the anniversary of the date you originally took it out.

How much could my guaranteed income increase by?

There's no limit to how much your income can increase as it depends on how well the funds you invest in perform. Remember the funds could fall as well as rise.

When can I take an additional withdrawal and what happens if I do?

You can take these at any time for as much or as little as you like.

However, taking additional withdrawals will reduce the future guarantees and there might be tax to pay on the amount you withdraw.

Your financial adviser will be able to tell you how this works.

What are my investment choices?

There are three different ranges to choose from:

Core portfolios - four ready-made portfolios made up of a mix of the UK Fixed Interest fund and the UK Index Tracker fund.

Multi-manager portfolios - four ready-made portfolios made up of a mix of the UK Fixed Interest fund and a range of funds from our Create range.

Create range - allows you to build your own portfolio from nearly 70 funds from some of the leading fund managers around.

Your financial adviser will give you full details of all the funds available. There may be additional charges for investing in these funds.

How will I know how much my plan will cost me?

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

In the meantime you can find out more information in the 'Charges' section

How can I find out how my plan is doing?

On request, we'll send you up to four valuations each year, free of charge.

Can I make additional payments to my plan?

If you want to make an additional payment, we'll set up a new plan for you.