Pros: The dividends can be steadier than stock returns or interest rates and can be borrowed tax-free as long as the lifeinsurance policy stays inforce.
Permanent insurance is a far more complex product that combines lifeinsurance with some form of savings plan and is often designed to stay inforce for life.
Standard Life said it was also ready for another change in regulations which come in to force next year and which ban commission payments to financial advisers who sell lifeinsurance and savings products.