Two Norwich Union with profit funds are set to pay their policyholders an average of GBP1,000 each should they accept the offer.
Around a million customers hold these particular Norwich Union funds, with 700,000 of them set to receive between GBP400 and GBP1,000 and a further 220,000 looking at a minimum of GBP1,000 up to GBP3,500. The policies in question are the CGNU Life and CULAC with profit fund. The payout will be instead of any future claim on the surplus value of the funds so the options should the considered carefully.
The general opinion is that the offer is a very fair one and is likely to be accepted by most customers, especially in the current economic climate. Payouts are expected to begin in the middle of 2009 since there are a number of administrative procedures to carry out prior to Norwich Union allocating the funds.
A recent study carried out by Zurich Insurance has shown that over half the consumers in the UK have never taken financial advice from a qualified advisor.
It may be an age related matter since the 18 to 24 year olds have the highest percentage of people without advice, 84 percent. Even for those aged 35 and over though there are still half of them who have never received financial advice. Zurich Insurance are urging everyone to consider speaking to finance professional in order to best arrange their finances.
At times of difficulty such as those being faced in the UK currently it is more important than ever to receive sound financial advice since there is a greater likelihood of problems when the economy is slow. Whether it is a Zurich Insurance financial advisor or one from another company the important element is to take advice from an expert.
The Prudential is said to be expanding the partnership it has with Standard Chartered a bank that works in the emerging markets sector.
At the moment the Prudential provides both insurance and savings products across Asia through the existing partnership, though this is set to develop with the partnership expansion. Moving forwards the Pru will be in a position to provide insurance products to customers in Japan, Thailand, Hong Kong, Malaysia and Singapore.
Current market figures show that the Prudential is the market leader for life insurance in Asia so the move into these far eastern countries is expected to be a fruitful one, the current status of the Prudential helping it quickly gain market share.
