If you’ve been with us for a while, then you may have an investment or insurance plan that we no longer promote. If you want more information on the benefits you’re entitled to with one of the former Rechabite Friendly Society products listed below, then please just get in touch.
The Standard Benefit Fund
You’ll contribute a regular, generally annual premium until you’re 65 in order to purchase a number of ‘shares' or 'units’. Each ‘share or unit’ provides a modest sickness benefit if you’re unable to work. Even though no more premiums are paid after you reach 65 there’s still a benefit payable when you die. Currently each ‘share’ pays £40 and each unit £20 on death, although this amount can change over time.
This is a whole of life insurance plan which means that, provided premiums are maintained, a cash sum will be payable on the death of the member.
As a With-profits plan we may have added bonuses to the original sum assured.
Surplus Contribution Fund
You may have a small balance in the fund which has accumulated over the years. We pay a nominal rate of interest and we’ll write to you every year to let you know the interest we’ve added.
Our Surplus Contribution Fund is currently being closed down.
Profit Sharing Scheme
This plan allows you to claim a range of sickness benefits up to your 65th birthday – after which the sickness benefit ceases leaving the fund in place. When you die, the balance of the fund will be paid to your estate.