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Essay / Research Paper Abstract
This 6 page paper outlines the characteristics and tax treatment of whole of life assurance policies, unit trust, ISA’s, endowment policies, management bonds, term assurance, annuities and pension schemes. The paper is written with reference to the UK. The bibliography cites 3 sources.
Page Count:
6 pages (~225 words per page)
File: TS14_TElifea1.rtf
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Unformatted sample text from the term paper:
that is taken out to cover for funeral expenses. There are several types if whole of life policy, the traditional types may be with or without profits., A with profits
policy will have a sum assured, which is the amount paid out on death, but has bonuses added on each year. A without profits policy costs less but the amount
that is paid out is only the sum assured, which is not increased with bonuses. There is also the choice of a unit linked whole of life policy, where there
is a sum assured, The policy premiums made will then be used to investment units in a fund. On death the amount paid out will be either the sum assured,
or the fund value if this is higher. Where there is investment, such as the with profits and the unit linked fund will have tax paid on the
fund growth by the fund manager. Where the fund is written in trust after the seven years it will be outside the will in accord with inheritance laws. Where the
policy form part of an estate it may be liable to death duties dependant on the entire value of the estate. The investment value is very low, but there may
be a value if the policy is cashed in early. Unit Trust. This is a pooled investment that is open ended. The more people invest the larger the fund
will grow. Each unit is a cross section of the entire fund. The value of the units will directly reflect the underlying investments. The funds will usually be specified and
have a risk profile, For example, it may be a unit trust in property, small technology firms or even cash. This is an investment that should be taken on for
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