We're considering investing in an [broken link removed]and we're just reading through the documentation at the moment which we find hard to understand and very heavy reading. We intend going back to the people who recommended it but in the meantime we would love to know what people here think about it. What are the negative points to bear in mind?
One aspect which I cannot quite get my head around and intend querying with them is this
"What happens if you die
In the event of death, we will pay out 100.1% of the cash in value after tax of your Protected Consensus Bond Series 2 on the date we receive all documents required on a death claim. There is no guarantee in relation to the cash in value, which could be higher or lower than the amount that you have invested. This payment will be made following the death of the remaining investor where the investment is jointly owned."
What exactly does this last sentence mean? If the bond lasts 6 years is it still possible to cash it in after this period or does it mean something else? Would just like people's interpretations before I go back to the supplier as our bond will be in joint names.
One aspect which I cannot quite get my head around and intend querying with them is this
"What happens if you die
In the event of death, we will pay out 100.1% of the cash in value after tax of your Protected Consensus Bond Series 2 on the date we receive all documents required on a death claim. There is no guarantee in relation to the cash in value, which could be higher or lower than the amount that you have invested. This payment will be made following the death of the remaining investor where the investment is jointly owned."
What exactly does this last sentence mean? If the bond lasts 6 years is it still possible to cash it in after this period or does it mean something else? Would just like people's interpretations before I go back to the supplier as our bond will be in joint names.