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Second bite offered at Norwich Union guaranteed investment plan

22 October 2004
For consumers who missed out the first time, Norwich Union is launching a second tranche of its guaranteed growth plan.

The scheme is a six-year investment scheme that - on maturity - will give the investor a return of 20 per cent or 60 per cent of the growth in the FTSE index, whichever is greater.

Neil Davies, head of investment product development at Norwich Union, said: "The guaranteed growth plan has been very popular with customers because, if the plan is held for its full term, they will see their money grow whatever happens to the FTSE 100.

"They like the idea of a minimum return even if the stock market falls, and the possibility of an even better return if the stock market does well."

He added: "IFAs like the plan because two layers of protection make up the guarantee; most rival products offer only one layer of protection and are more risky. It is also simpler than many other structured products on the market."

Customers have six weeks to invest in the scheme from November 1st onwards.

The minimum investment into the scheme is £6,000.
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