Living Annuity Plan: Overview

This is a flexible annuity product where an individual retains the longevity and investment risk but where assistance is given in managing those risks.

The Living Annuity Plan is a single premium retirement savings policy equal in value to an individual Annuity Fund for each annuitant which comprises of an individual portfolio of bonds, shares and bank deposits. Each Annuity Fund is managed by an Investment Manager who may be appointed by the client but who must be approved by Nordben.

Consideration should be given to the Plan if:

• a vehicle offering family protection after death is required.  The Plan continues to make payments after death in a manner prescribed prior to death.
• involvement in the investment management of the Annuity Fund is preferred.
• the advantage of an insurance contract is desired.