With-Profits Insurance

jaykaydee

New to the forum so apologies if this is covered elsewhere. I am looking to take out a with-profits type insurance policy for my wife. Are these policies still around, or are there better things to do, i.e. take out a death only policy for a cheaper monthly cost and put the balance into an ISA or similar savings scheme. Any advice appreciated

dunstonh

I am looking to take out a with-profits type insurance policy for my wife.

With profits is a type of investment fund. Largely obsolete nowadays with a couple of exceptions.

Are these policies still around

You mentioned the investment fund you want but not the type of policy you want. As with most investment funds, they are typically available in many different types of tax wrappers or policies.

or are there better things to do, i.e. take out a death only policy for a cheaper monthly cost and put the balance into an ISA or similar savings scheme.

Sounds as if you are after an endowment policy. There are no mainstream providers of endowments any more. The last retailed in 2003. Just some smaller naff schemes for the DIY market.

This is mainly as stocks & share ISAs are more efficient for investing and term assurance is more efficient for life assurance. The endowment couldnt be justified any more.

jaykaydee

Cheers mate, kinda what I thought tbh