About investing in this policy
- A My Choice policy is a medium to long-term investment of at least 5 years and ideally 10.
- As with all investments, it's important to be aware that the value can go down as well as up, so you could get back less than you've paid in.
About tax and ISAs
- Tax treatment depends on individual circumstances. Tax law may change in the future.
- Tax-free means the policy grows free of income or capital gains tax (other than tax that's already paid i.e. on dividends from UK shares).
- There are four different types of ISA - Investment ISA, Cash ISA, Innovative Finance ISA or Lifetime ISA - and you can have one of each in the current tax year.
- The current ISA limit is £20,000 and this is the total you can invest across all types of ISA each year.
If you want more information about the different types of ISAs, our guide might help: