Article date: 11 November 2009
Aviva, the UK’s largest insurer, is to introduce an innovative continuous money-back guarantee option for new with-profits investments in response to customer demand.
Investors will have the peace of mind that if they move out of the fund at any point after five years they will get back at least what they put in. The fund also enables them to benefit from potential increases in all the major asset classes including property, shares and fixed interest.
The guarantee will be available from 30 November 2009 on new investments in the With-Profit Guaranteed Fund. The charge for the guarantee is an extra 0.7% a year for the first five years. (See notes to editors for conditions).
David Barral, marketing director at Aviva, said: “Customers tell us that they are looking for a return that’s better than a bank or building society account without taking too much risk with their money. By taking advantage of the with-profit guarantee option, customers can benefit from potential increases in property and shares, with the peace of mind of a money back guarantee providing they invest for at least five years.
“The fund shows our continued commitment to with-profits, and is a great addition to our existing suite of low-risk and guaranteed investment solutions.”
The value of the investment can go down as well as up and if you surrender the bond before the five-year guarantee, you may not get back your initial investment.
For further information, please contact:
David Gwyer 01904 452659 / 07800 693187
Notes to editors:
About Aviva’s with-profits money-back guarantee
The With-Profit Guaranteed Fund is available from 30 November 2009 on new investments into the Aviva Portfolio investment bond.
This fund is available for a limited time only and Aviva reserves the right to amend or withdraw the terms of the guarantee for new business without notice at any time. Investments are made into the main Aviva With-Profit Fund (formerly known as the CGNU With-Profit Fund)
The guarantee will apply to monies held in the fund continuously from the start of the bond for at least five years and moved out, in full, on any subsequent date. Partial withdrawals or switches from the fund will reduce the guaranteed amount in proportion to the number of units cancelled.
About Portfolio investment bond
Portfolio offers a flexible way to invest for growth or income. Its minimum investment is £5,000 and investors can choose to put their money in a selection of over 180 cash, bond, property, equity and with-profit funds, which are run by Aviva and other fund managers.
Aviva, the international savings, investments and insurance group, is the world’s fifth largest insurance group, serving 50 million customers across Europe, North America and Asia Pacific.
In the UK, Aviva is a leading provider of life, pensions, investment, general insurance and health products to more than 20 million customers. Aviva also provides roadside assistance through RAC. Products are distributed through a number of channels including IFAs, brokers, corporate partners and direct to customers via the internet.
Aviva's UK Insurance business has a market share of around 15%, making it the largest general insurer in the UK. The business is focused on insurance for individuals and small businesses.
Aviva's life and pensions business in the UK has a total market share of 12% and a top three position in its key markets of savings, protection, and annuities.
Aviva’s news releases and a selection of images are available from the internet press centre at www.aviva.com/media.