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With Profits Fund Protection
ThursdayKnight
Posts: 2 Newbie
I have a considerable lump sum invested for 5 years in a Norwich Union with profits fund.
Can anyone please advise if any FSCS protection applies just in case?
Is this an insurance or investment?
Can anyone please advise if any FSCS protection applies just in case?
Is this an insurance or investment?
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Comments
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Good choice. They have been doing very nicely.I have a considerable lump sum invested for 5 years in a Norwich Union with profits fund.
Yes there is. Its not the fund you get the protection on but the product. Technically, it is a single premium whole of life assurance plan. So, its classed as insurance and you get insurance protection.Can anyone please advise if any FSCS protection applies just in case?
The first of the 3 year special bonuses gets added in december and you have the orphan assets distribution soon as well. Not a time to be worried about FSCS protection on a unitised with profits fund.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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