MILLIONS OF investors in with-profits savings policies will have access to much clearer information on what their holdings are worth following the introduction of stricter disclosure rules for these notoriously opaque products, reports The Financial Times.
According to the paper, rules set out yesterday by the Financial Services Authority, mean insurance companies will have to provide details of the exact maturity and surrender values of with-profits policies based on common valuation standards. The information will be available for a range of life and pension policies with varying lengths of terms. Previously, insurance providers had to supply the regulator with details of only their annual and terminal bonus rates. As a result, investors struggled to get any clear idea of how much their underlying investments were worth. Now policyholde...
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