Is there any end to the pain endured by holders of With Profits funds and policies?  The relentless downward spiral of these once great investments is a sad indictment of the way insurance companies have treated their policy holders over the last twenty years and they (by which I mean WP funds but it could apply to the insurance companies) seem to be in terminal decline.  The inherent lack of transparency and flexibility of With Profits funds have left them struggling for relevance in the modern world and with the possibility looming that the regulator will turn off the commissions tap, there seems little left to sustain them.  Unloved and misunderstood by most, we should not mourn their passing.

Below is a graph showing the history of annual bonuses awarded to the ever suffering investors by a 'leading' insurance company.  Not a pretty sight.