Liverpool Victoria has become the latest provider to cut pay outs on 'with profits' policies. As with previous providers blaming poor equity markets, they cite the same and are reducing payouts between 13% and 18%. Regular, yearly bonuses have been cut on traditional with profits plans have been cut form 4.5% to 3.85% and for unitised with profits plans from 4.5% to 2.25%.
Our view:
As we approach declaration season for major insurers, expect more cuts. Search the archive for other 'with profits' stories.