Tax Exempt Savings Plan With Life Cover
Guaranteed sum assured, tax-free bonuses plus life cover subject to underwriting – this plan is a firm favourite with many of our members. It is based on our regular monthly or annual premium savings plan - with a maximum investment of £25 per month or £270 per annum. In the event of death before the end of the term, a guaranteed sum is assured as well as the payment of any bonus accrued. Maturity values are tax-free.
Providing the plan runs to its planned maturity date, the Society will, depending on the amount you wish to save and for how long, guarantee a minimum sum assured. The final value will depend upon investment performance but bonuses are declared by the Society's Committee of Management acting on actuarial advice, each year, and these are added to your guaranteed sum assured. As with our standard Tax Exempt Plan, once added these bonuses cannot be taken away.
Anyone aged between 11 next birthday and 55 next birthday can start a plan or have several plans within the overall maximum levels of £25 per month or £270 annually. The maximum figure includes any other tax-exempt plans held with another Friendly Society.
Flexibility is built-in. You may choose the period over which you would like to save, with a minimum term of 10 years. If you are aged 55 next birthday the maximum term will be 10 years.
Download our Tax Exempt Savings Plan With Life Cover Brochure (1.36 MB)
More detailed information is available in the brochure linked above. For further details, or to make an application, please click the following link:
