Aegon Secure Income
If your clients are nervous about their future income and how markets could affect their savings, Aegon Secure Income could put their mind at rest by giving them a minimum yearly guaranteed income for at least 20 years – no matter what happens to the value of their fund.
Plus, with our unique, innovative monthiversary feature at the end of each year, they get 12 chances to lock in increases in fund value to secure a guaranteed benefit at the end of the guaranteed income period.
- Income of 5% of investment for at least 20 years – or longer if they decide to take a smaller guaranteed income each year (4% of investment for 25 years for example).
- Optional guaranteed death benefit - so they’ll have the comfort of knowing that they can leave something for their family.
- Access to their money at any time – the money’s not locked away, but taking additional withdrawals or ad hoc adviser charges will proportionately reduce the guarantees on the bond.
Your client also has the flexibility to choose between:
- investing now and taking guaranteed income now;
- investing now and taking guaranteed income later; or
- investing now and taking guaranteed income now, but then taking a break before restarting guaranteed income later.
Payment of any initial adviser charges after the money is invested will impact the amount of guaranteed income received in the first year. This and any ongoing adviser charges will count towards the guaranteed income level of 5% and to the tax-deferred yearly allowance of 5%.
The premium isn’t guaranteed. The fund value depends on the performance of the funds invested in, the income payments taken and any additional withdrawals made.
If your client doesn't select the guaranteed death benefit option along with the guaranteed income option and the last life assured dies before the end of the guaranteed income period, what we pay out isn’t guaranteed. They may get back less than the amount originally invested.
Potential to lock in a guaranteed benefit
This feature positions your clients’ investment to potentially benefit from any market upturns by locking in gains – we call anything we lock in your guaranteed benefit. At the end of every year after you take out the bond, we look back to see what the value of it was on this date and each of the corresponding monthly anniversaries – we call these dates the monthiversary.
Placing it in trust
We have a range of trust options(Opens new window) to help your clients reduce or mitigate inheritance tax bills, ensuring their money goes where it’s intended after their death or during their lifetime.
Using a bond in the appropriate trust can generate an immediate reduction in your client’s potential IHT liability. Trusts generally don't allow access to the money in them, however to help with inheritance tax planning, our wide range includes trusts with some of the following features:
- Access to original capital through fixed payments from the trust.
- Access to their original capital for life.
- Ad-hoc access to their original capital as required.
Making sure your clients have all the options they need, we have two primary sets of trusts.
Bare Trusts – for your clients who are happy to name beneficiaries at the policy’s outset.
Discretionary Trusts – for your clients who need more flexibility over future beneficiaries.
Find out more about our trusts in our brochure Place your trust with us - an introduction(Opens new window).
All references to taxation are based on our understanding of current taxation law and practice in the United Kingdom and Ireland, which may change.
This product is provided by Aegon Ireland plc in Dublin.