Norwich Union Guaranteed Whole of Life product launched
www.moneynews.co.uk > Insurance > Norwich Union Guaranteed Whole of Life product launched
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Money News |
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Norwich Union Guaranteed Whole of Life product launched
Tue 11th Apr 2006
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Customers can use the product for family protection and inheritance tax planning to provide assistance with cover against inheritance tax (IHT) liability and financial support for a spouse, partner or dependants.
There is also an option to cover a "key man" within a business, whereby an individual who is crucial to the running of a business is insured and in the event of that person's death the business will receive a payout to ensure its livelihood.
The Norwich Union Guaranteed Whole of Life product is the only deal of its kind to offer three different payment options, the company claims.
A single payment can be made to reduce IHT liability, annual or monthly inputs can be made or limited premiums, whereby higher monthly payments are made over a shorter period of time, can also be taken.
"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."
The product is available through all Norwich Union distribution channels.
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