GUARANTEED DEPENDANT PROTECTOR: Pays up to 12 times your Absolute Income Protector cover amount as a lump sum to your beneficiaries where you die within 12 months from the first claim payment of an Absolute Income Protector claim that is being paid at the time of your death.
The multiple of the Absolute Income Protector cover amount that is payable, will be between 1 and 12 depending on the number of monthly claim payments that have already been paid for the Absolute Income Protector claim in payment at the time of death.
GROWTH SHARING : All the growth on your investment is yours up to the Target Return. Return above the Target Return is then shared by you keeping all growth on your choice of portfolio’s and Liberty keeping the portion in the Capped Tracker that is above the Target Return. In this way you share growth that is above the Target Return.
GROWTH SHARING DEDUCTION : The Capped Tracker is a 3 year commitment. This is also how Liberty will get the costs of setting up your investment back. If you no longer want to be invested in the Capped Tracker, there is no way for Liberty to share in your growth. For this reason, any withdrawal from the Capped Tracker will result in the value of the outstanding growth sharing to be deducted. This is called the growth sharing deduction.
GUARANTEED PERIOD: This refers to the period during which annuity payments cannot decrease. It is mostly applicable to life annuities. For example, if the principal pensioner passes away within the guaranteed period, the spouse’s reversion will not kick in until the end of the guaranteed period.