ISAS: Outside bet for savers
Sunday 25 April 1999
An insurance ISA is set up as a bond run by life companies or friendly societies, but the name is something of a misnomer as there is no life insurance included in the deal, although if you die your estate will get back at least what you have paid into the scheme.
Richard Norman is direct savings product manager at Abbey National, one of the few firms to offer all three elements of an ISA. He says: "The insurance ISA element can be appropriate because it should be less volatile than equities." Abbey sees it as a halfway house between savings acc-ounts and equity investments.
These plans put your money into with-profits funds. They invest in shares, property and fixed-interest investments and your cash grows through an annual bonus reflecting a share of the profits (hence "with-profits" funds) each year.
The underlying funds receive the same tax breaks as the stocks and shares ISA but with a lower investment limit (pounds 1,000). Overall, you can expect your money to grow at just 0.5 per cent a year quicker than in a taxed fund.
Contacts: Abbey National, 0800 302030; AXA Sun Life Direct, 0800 608072; CIS, 0161-832 8686; Norwich Union, 0800 056 2450; Pearl, 01733 473332; Scottish Friendly, 0141-275 5000.
New UK station Russia Today gives a very bizarre view of Britain
By performing as African Americans or Indians, white people get to play act a kind of 'imaginary liberation', writes Michael Mark Cohen
Top Gear presenter is no stranger to foot-in-mouth controversy
New essay by JK Rowling went live on Pottermore site this morning
- 1 'Nasa Confirms Six Days of Darkness in December': No, they don't - it's a hoax
- 2 Canadian actor punched in face after 'Islamophobia' experiment goes wrong in wake of Ottawa shooting
- 3 Topshop at centre of row over body image as 'shocking' skinny mannequin photo goes viral
- 4 Top Gear presenter Jeremy Clarkson criticised for beer tweet
- 5 The bubble bursts for Sodastream
'Nasa Confirms Six Days of Darkness in December': No, they don't - it's a hoax
Top Gear presenter Jeremy Clarkson criticised for beer tweet
Halloween 2014: From the Screaming Man of Pluckley to the 'White Lady' of the Tower of London - Britain's 20 most haunted places
The bubble bursts for Sodastream
Russian politician says Apple CEO Tim Cook should be 'banned' from country after coming out as gay
Pope Francis declares evolution and Big Bang theory are real and God is not 'a magician with a magic wand'
Huge surge in Ukip support after EU funding row, according to new poll
Ukip ‘exploiting grooming scandal’ to secure party’s first police chief
Nigel Farage: 'There’s nothing wrong with white people blacking up'
Maureen Lipman says 'she can't vote Labour while Ed Miliband is leader'
Muslims, immigration and teenage pregnancy: British people are ignorant about almost everything
iJobs Money & Business
£18000 - £23000 per annum + Comission: SThree: SThree, International Recruitme...
£20000 - £25000 per annum + OTE £35K: SThree: We consistently strive to be the...
£20000 - £23250 Per Annum pro rata: Clearwater People Solutions Ltd: Pro rata ...
£40 - 48k + Benefits: Guru Careers: We are seeking a Marketing Manager to join...