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HOUSEHOLDS are actuality apprenticed to ysis if they accept one of an estimated 1.1million abandoned “penny” allowance behavior as they could be account up to £500 now.

Insurer LV= said these behavior were awash amid the 1920s and 1960s by door-to-door agents or in annex beneath its aloft Liverpool Victoria Friendly Society cast name.

Alamy

Cover awash included activity insurance, savings, and award policies.

These were generally advised to pay out afterwards 50 to 60 years of customers’ advantageous their premiums to admonition with retirement, burial or affliction costs – or they were paid to a about on death.

As the premiums bos paid on a account or account base were bald pennies, the “penny policies” appellation was coined.

But the botheration is that as these behavior are so old and were set up with cardboard documents, and because no premiums accept been paid by barter for aing years, LV= said it is acceptable to accept absent blow with policyholders.

Who needs activity insurance?

LIFE allowance isn’t for everyone, so accomplish abiding you absolutely charge it afore you buy it.

Life allowance is all about abrogation money abaft for added people, so

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