With Profit Bonds, what are they?

[pits]

Wife is going through a load of papers and we have found a document which is a
Natwest With-Profit Bond

It was taken out in 2004, not by her, but it is in her name, she is named as the life assured, it has "on death any amount payable under conditon 2(g) PLUS 101% of the selling price of units, see condition 7)
With Profit fund Series 4

The thing is, I don't what it is, what it pertains to, nor does she, we assume her mother set it up, but what does she do with it? What it actually is it? In simple terms if any of you would be so kind? She wants to know if she needs to check anything or do anything with, being that it is now 21 years old.

[C69]

The provider should be able to explain how your particular bond is set up and how it works.

Looks like you should contact Aviva now, rather than NatWest.

https://www.natwest.com/investments/existing-custo...

[Panamax]

A With Profits Bond is an investment product written as a form of Life Assurance. If you read the document it should explain the circumstances in which money can be withdrawn - it's not just upon death.

Contact the provider with any questions. They'll almost certainly refuse to talk to anyone other than the policy holder.

https://www.aviva.co.uk/help-and-support/managing-...