Citadel Insurance declares four per cent bonus rate

Citadel Insurance plc has announced a bonus declaration of four per cent on all its ‘with-profits’ policies. The bonus will be credited to the policy accounts active as of December 31, 2010 on all of the Citadel Life Investment Bonds and the Perla Savings policies.

Policyholders of the Perla Protection Plan will be credited with the guaranteed 4.5 per cent bonus.

Mark Lamb, head of Citadel’s Life department explained: “Once again our policyholders have benefitted from the application of another market leading bonus rate combined with a minimum guaranteed return.”

Over the last 10 years, the company has declared an average annual bonus rate of 4.90 per cent. The Citadel Life Investment Bond and Perla Savings Plan are tax-efficient life insurance policies in terms of current tax legislation. Citadel’s Perla Savings Plan offers a minimum guaranteed return of 3.5 per cent on the invested premiums while no up-front allocation fee is being applied to the single premium policy ‘Citadel Life Investment Bond’ under the terms of the current special offer.