Upfront payment provides greater certainty for policyholders

Investors are entitled to up to 90% of the excess assets in a with-profits fund, but as the value of these tends to be uncertain some prefer to opt for an upfront set payment

There is much talk of inherited estates or orphan assets at present, for example, what they are, who owns them or is entitled to them, where did they come from, why they are needed and, probably of most interest, what should be done with them and what is a reattribution? Probably the best place to start is by explaining that the correct term for the excess assets in with-profits funds is the inherited estate, and not orphan assets as is often assumed. Orphan assets are matured policies against which people have not yet made claims but may still do in the future - these assets remain within...