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You asked: What are unitised with-profits?

A unitised with-profits policy is one where we use your money to buy units of equal monetary value in the With-Profit Fund. We share out the fund's investment returns through a system of bonuses. The regular bonus is added to your investment by increasing the price of your units. This means that the number of units you hold stays the same but the value of these units increases and reflect the bonus rate we've set. A final bonus may also be payable at maturity, on retirement, surrender or on switching out of the With-Profit Fund.

This is not applicable to the With Profits Pension Annuity.

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