reassure legal and general

If you’ve allocated money to capped drawdown, your annual statement will be sent shortly before the start of your drawdown review year. We expect this to be the case for most transferring customers with drawdown. By choosing to get a quote from LV= you are leaving the ReAssure website. This means, for example, that a premium that would have increased by £15 in three years time, will instead increase by £5 a year, for the next three years. Will the transfer have any effect on it? Statements will continue to be received by the same method as provided by Legal & General. We’ve grouped some policies together following the transfer from Legal & General, where customers had multiple policies of the same type. Customers who are only invested in insured funds should use the following contact details: Customers whose SIPP is wholly or partially made up of self-investments should use the following contact details: Remember to quote your policy number when you contact us. If you have a bond or savings plan and you’re interested in setting up regular withdrawals, you should read our guides on natural income and bonus linked withdrawals. Why is this? We appreciate this may not be quite as convenient, but each letter will clearly reference the policy, or policies, it covers, and we’ll be happy to answer any other questions you have. Legal & General Mature Savings business transferred to ReAssure. You can find information about commission statements and payments here. Regular payments for a fixed term to maximise tax efficiency. If your Direct Debit is collected between these dates, there won’t be any changes to how your payments are collected and allocated. Calls may be recorded and monitored. If you currently pay your contributions weekly or 4 weekly, we’ll be switching your contributions to monthly when the transfer takes place. Why is this? If you want to know more about ReAssure’s arrears process, please contact us. For more information, our Facilitated adviser charge guide is available here. You’ll also get a separate letter if you’ve chosen to get rising income (income that goes up each year) from the non-profit part of your annuity. There is no change to your terms & conditions, or the features, values and benefits that your policy provides. For customers with a Self-Invested Personal Pension (SIPP). If your life policy’s cover or premiums increase regularly, there’s a change to how often this will take place for some customers. Will this change under ReAssure? £1 trillion fund manager pressures firms on diversity, climate change. You can make these requests and find a larger choice of downloadable forms here. You shouldn’t notice any change – although we’ll start the process of paying you five days earlier, you’ll still get your money on the same date as before. Legal & General Assurance Society Limited (“Legal & General”) has proposed to transfer its traditional insurance-based savings, pensions, life and with-profits to ReAssure under Part VII of the Financial Services & Markets Act 2000. Will I still be protected by the Financial Services Compensation Scheme? Legal & General is responsible for the information provided within their site. How will ReAssure administer commission payments? Once you’re registered on ReAssure Now you’ll also be able to contact us by secure message. Rather than ReAssure offering their own annuity, they’ve referred you to us, Legal & General, for a quote. We're introducing customers to Legal & General for annuity quotes, but we don't directly control their products and services. If you service other policies that remain part of Legal & General, you’ll still be able to view these policies using existing Legal & General online services, where applicable. ReAssure will issue commission statements that contain the information you need. A lifetime annuity that is guaranteed to pay you a regular income for the rest of your life. You will receive an Annual Statement for your ISA transactions from Legal & General UTM (Unit Trust Managers) and a Consolidated Contract Note, sent six months after the annual statement. Pension customers looking for a guaranteed income for life will be referred back to Legal & General for annuity quotes. How should I contact ReAssure after the transfer? Unless otherwise indicated, all references to 'us', 'we' and 'our' on this website indicate Legal & General. We are experiencing some delays in replying to requests, however all queries are dealt with as soon as we can and in date order. Legal & General is to sell a closed savings business with 33 billion pounds in assets to Swiss Re for 650 million pounds to help fund areas of growth including annuities. This means the High Court hearing to consider the transfer has also been deferred, and that ReAssure and Legal & General will also apply to adjourn the scheduled hearings in the Royal Court of Guernsey and Royal Court of Jersey. The Legal & General Group is a long-standing provider of annuities and ranked among the FTSE top 100 companies. From 24 August 2020, ReAssure are issuing you and your clients with a welcome pack. Guaranteed maturity amount at the end of the term. A general power of attorney gives the agent broad powers to perform many legal acts on behalf of the principal. read our ReAssure Now Frequently Asked Questions. What happens if my client has changed address? You can also email us at advisersupport@reassure.co.uk. We’ve also created a general Q&A for Legal & General customers which you may find helpful here. There are no other major changes you need to be aware of, but there are a number of minor changes which are shown in the new SIPP Terms Sheet. I receive annuity payments on the 29th, 30th or 31st of the month. When we can’t do this, we have to send separate letters for separate policies. ISA funds will be passed to UTM on the same day they’re received by ReAssure and your money will be invested using the daily unit prices immediately following receipt of the instruction. LV= is responsible for the information provided within their site. The 1.1 million life policies, which consist of with-profit, unit-linked and savings products, will be transferred to ReAssure from Legal & General Assurance Society Limited, part of the L&G Group. For advisers who are part of a network, the payment is sent to the network along with a statement. If they’re happy it still applies, you won’t notice any change in the amount of tax that’s deducted following the transfer. If this affects you, and you’d prefer to be paid on a date other than the 28th, please contact us. As well as this scale and experience, we’ve been awarded an A+ (Strong) rating by leading ratings agency Fitch who noted, “…ReAssure’s rating reflects the insurer’s strong business profile and profitability and very strong capital position.”. Are you going to write to me? Legal & General is responsible for the information provided within their site. If you’re 55 or older, we’ll send it six months before your birthday. These policies will be managed by ReAssure, a market-leading UK closed life book consolidator within the Swiss Re Life Capital business. Swiss Re's ReAssure group will take on around 1 million L&G retail customers By Gareth Shaw. We strongly recommend that you seek guidance from the Government’s free and impartial service Pension Wise. We’ll send a letter each year to tell you what increase we’re going to apply, and when. Are there any other changes to my SIPP I should know about? The Legal & General Group is a long-standing provider of annuities and ranked among the FTSE top 100 companies. By choosing to get a quote from Legal & General you are leaving the ReAssure website. Shares in Legal & General fell 1.1% to 261p on the news. LG With Profits Fundor LGWPF means the separate with profits fund that ReAssurewill maintain following the transfer of the business of the With Profits Fundto ReAssure. I wonder if anyone here is similarly affected, and if so, what your thoughts are? All the bonus information for each member will be contained within the annual statement, so you’ll no longer receive a separate bonus notice as well. If your scheme is paying contributions and you’ve registered for the ReAct portal, you’ll be able to access additional copies of your member’s statements here. I’m having problems with ReAssure Now. This means, for example, if you’re due to get paid on the 30 November, you’ll now get paid on the 1 December. Legal & General's Group website provides information for shareholders, journalists and those interested in career opportunities at Legal & General. Don’t worry if you haven’t received one yet – we haven’t forgotten you and we’ll write before the end of October. Finally, if you need to contact us in writing our postal address is: ReAssure, Windsor House, Telford TF3 4NB. The business is being acquired by the ReAssure division of reinsurer Swiss Re, although Legal & general will continue to manage the funds. 7 September 2020 – The transfer of Legal & General policies to ReAssure is complete. The transfer of the traditional insurance-based savings, pensions, life and with profits policies of Legal & General to ReAssure Limited has been completed. We’re inviting eligible customers to access ReAssure’s secure online portal – ReAssure Now. If you want to continue to pay your contributions on your current frequency, you can register to use the ReAct portal. We have over 70 customers using our Origo Transfer Service which equates to over 120 brands. For customers with a Flexible Mortgage ISA (FMISA). Once we get your new tax code from HMRC, we’ll apply a tax correction to following payments so you won’t lose out. We’ve done this to simplify our communications with you – for example, policies that receive Annual Statements will get one letter each year rather than a number of very similar communications. Call Legal & General on 0370 050 0955 between 8.30am to 6.00pm, Monday to Friday. You will not get a separate P60 from Legal & General. I live overseas and receive payments from my UK annuity. We’ll automatically send you information about the options that ReAssure can offer your members approximately seven months before this date, and again approximately three months before this date. The business is being bought by the ReAssure division of Swiss Re, … If you don’t use ReAct, you can tell us about scheme leavers by post, phone or email. This is available to all Advisers, even if you weren’t offered telephone support from Legal & General. Because of the way Legal & General make your payments, your money is actually credited into your bank account a day before your due date. It’s easy to change address. Because this is our focus, all our systems and processes are designed specifically for the types of policies that transfer to us. To process work efficiently, we won’t normally provide updates while your request is being worked on. If they’re happy it still applies, you won’t notice any change in the amount of tax that’s deducted following the transfer. Even so, it may take longer than usual to get through to us. These include new limits for some types of income drawdown and – for customers invested in the Aegon platform – confirmation that your Aegon platform annual charge can be deducted directly from your SIPP. Its With-Profits fund was closed to new business with effect from 31 January 2015. By continuing to use our website, you consent to us using these cookies. Sole advisers will receive commission payments directly and a commission statement. Before coming to ReAssure, L&G only purchased units on a weekly basis and held the funds until the day of purchase. Legal & General and ReAssure have now confirmed the transfer of the Portfolio Plus Self-invested Personal Pension (SIPP) and Portfolio Plus Pension is taking place on 7 September 2020. ReAssure and Legal & General have jointly agreed to defer the transfer, which was scheduled for 4 November 2019 (subject to High Court approval). Investment Objective: ReAssure LG Distribution Fund (A) G16 The fund is a well balanced portfolio that aims to generate and distribute stable, rising income and offer good growth prospects. If you don’t submit your contribution schedule or you don’t pay your contributions for your scheme, we’ll write to you to inform you about this. Who do I contact after the transfer about my SIPP? If you register to use the ReAct portal, you’ll be able to tell us about any scheme leavers through this. Continue To help us direct you to the correct online system please tell us if you are a: Transfer of business from Legal & General, ReAssure’s response to Coronavirus (COVID-19), Old Mutual Wealth Life Assurance is now ReAssure. We’ll need your agency number for any questions about commission. This will have an effect on your policies, meaning you’ll get more annual statements and letters than before. If this applies to you, and we think you can do without your SIPP bank account, we’ll write again shortly after the transfer. For more information about your funds click here. All FMISA premiums will now be collected by ReAssure using Direct Debit. Please see confirmation of this in the ‘Transfer Certificate’ which can be found under the ‘Important documents’ section of our … The agreement reflects Legal & General’s commitment to the annuities market and is the fourth of its kind for the FTSE 100 financial services company, following similar arrangements with AEGON, ReAssure and Sun Life Financial of Canada. Will there be any change to the tax I pay on my annuity income? If you've already received a letter from ReAssure explaining your retirement options, it's worth finding out more about our products. If your policy currently increases every three or five years, this will change to yearly after the transfer. Yes, following the transfer your investments with ReAssure will still be covered by the Financial Services Compensation Scheme, in the same way as before. This means HMRC will have to re-check your current tax code. I receive regular payments from my pension or life policy on the 29th, 30th or 31st of the month. What can I do? We cannot pay on the 29th, 30th or 31st of the month, so if you’re currently paid on any of these dates we’ll move your payment date forward to the 28th. Business News. In this letter, we’ll also explain how we plan to reinvest your outstanding balance (if you have one). Facilitated Adviser Charges. ReAssure and Legal & General are proud to be working together. Advisers who have been receiving statements on a specific day may start to receive them on different days depending on when the payment threshold is met and payment released. ReAssure will issue an annual statement covering key parts of all elements of your plan. We currently offer a Pension Annuity, Cash-Out Retirement Plan, or Fixed Term Retirement Plan to ReAssure customers. Will I notice any changes after the transfer? Legal and General has sold off just over a million closed book policies to reinsurer Swiss Re. 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