You’ve got 33k to invest. If you are conservative, why not plonk 28 grand in the Northern Rock or equivalent high interest deposit account at 4% CAR? In five years this will give you about 33k so your capital is protected in nominal terms (but still vulnerable to inflation). Plonk the other 5 grand in an ISEQ or Eurostoxx50 tracker with say QL (1% mgt fees). If you had done this 5 years ago, in the ISEQ, your 5 grand would be worth about 8900 now. Of course past performance is no guide to future performance. But you are protecting your money in nominal terms and getting 100% exposure to the stock market on a proportion of it, whcih will hopefully beat inflation. Also with this if the stock market zooms and you get nervous you can always encash your investment. OK, you have to take taxes etc. into account in the above but the proposed Eagle Star product has an annual charge of 1.5 – 2%, and an early encashment charge if you cash in within 5 years. (Note I’ve no connection with NR or QL but have investments with both).