Royal London increases final payouts on ScotLife policies

Royal London is maintaining bonus rates on the closed Scottish Life fund and has largely increased f...

Royal London is maintaining bonus rates on the closed Scottish Life fund and has largely increased final payouts. The last of the major life groups to report, the Scottish Life fund returned 14.5%, before tax, during 2005, its third successive year of growth. In 2004 the fund recorded a gain of 9.6%. In addition to bonus changes, the group features 0% market value reductions (MVRs) for premium life and pension plans. With effect from 1 January 2006, the payout on a Scottish Life £50 per month 25-year with profits endowment is £47,337. With total premiums on the policy of £15,000, thi...