What about lump sum investments?

The minimum investment, if you wish to invest a lump sum, is just £5,000, again with no maximum.

What if I die?

All of the plans include an element of life insurance, the amount will be paid out to your estate, or you can arrange to have it assigned to a Trust in order to ensure the cash is used as intended and that waiting for probate to be granted can be avoided.

Can I stop making contributions?

These plans provide a rigid saving discipline with a firm savings goal in mind. In case of regular savings With-profits plan (like Bonus Builder, High Start Bonus Builder) nothing is payable if premium contribution is stopped within first 24 months of the policy. In case of Wealth Builder plan nothing is payable if the premium is stopped within first year of the plan. However, under some circumstances it may be possible to defer monthly payments for up to 13 months.

Can I cash-in early?

Yes, this is possible, though you must bear in mind that these plans are designed for the medium to long term, so cashing in early could mean you get back less than you have paid in, and could incur a tax liability in some circumstances. Lock-in periods are different in different plans meaning that you will not get back anything if you wish to en-cash/surrender during the lock-in period. Please refer to individual plan for details.

Are the returns guaranteed?

Our with-profits products do offer certain guarantees, but the unit-linked products depend entirely on the underlying investment performance and can fall as well as rise.

Can I change my mind?

After your proposal is accepted, you will receive a notice of your legal right to cancel. You then have 30 days for with profit saving plans and 14 days for unit linked saving plans from receipt in which you can change your mind. If LICI UK do not receive a Cancellation Notice, then your plan will continue. For with profit  savings plans and the Capital With-Profits Bond, you will receive back in full any contributions you have made. For unit linked saving plan and the Capital Investment Bond, you will receive back either the amount you invested or the value of your fund, whichever is lower. This means that you might get back less than you invested if unit prices have fallen.

How are contributions made?

Regular contributions can be paid monthly or yearly by Direct Debit, for single premium by Cheque/Draft or direct debit.