Royal London launch direct With Profits Bond

Royal London launch direct With Profits Bond Royal London has launched a new With Profits Bond aimed at the market for direct investment. The new product is open for lump sum investments of £5,000 or more. It is the first product available from the life company direct to investors. Royal London has worked to simplify the With Profits Bond for this market, bringing greater clarity to the product design. It will also meet the growing demand among investors to deal directly with financial service providers. Royal London has traditionally distributed products through a network of financial consultants generally in the customers' own home. The company is now looking to open up new markets and methods of distribution. Commenting on the launch of the new bond Chris Ide, Chief Executive of Royal London New Markets said, "Royal London has a very strong reputation for with profits products so it seemed logical to launch a With Profits Bond as one of our first direct products. We are well aware that With Profits products have come under increasing scrutiny recently but we firmly believe that with profits products still have a strong appeal for many investors. The smoothed profile of the investment return is a very attractive feature for many customers. Provided customers fully understand the nature of the product they have purchased and the risks associated with a With Profits investment, we see no reason why this form of policy should not continue to prosper. " The new Royal London With Profits Bond is available via the Royal London website. Alternatively prospective investors can get in touch with Royal London's Contact Centre located in Cobham, Surrey, where trained staff will provide information and assistance. Application packs can be obtained from 0800 085 9977 or http://www.royal-london.co.uk/. Notes to Editors Royal London is the 2nd largest mutual insurer in the UK with funds under management of £29 billion. Following the acquisition of the business of Scottish Life in July 2001, Royal London has a strong distribution presence in the IFA market. The Scottish Life brand has been retained for IFA business. The new With Profits Bond is available on a single or joint life basis. It has no up front charge but a monthly policy fee of 0.085% for the first five years. There is an annual management charge of 1%. Bonuses are added annually. A final bonus may be payable when the bond is cashed in. For further information Gareth Evans, Head of Communications (Retail), Royal London Office 01206 773426 or Mobile 0787 668 009. Emma Reed, Financial Dynamics Office 020 7 269 7249 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/10/19/20011019BIT00940/bit0001.doc http://www.waymaker.net/bitonline/2001/10/19/20011019BIT00940/bit0001.pdf