Adult - Standard Savings Plans


If you want to save a bit more than £25 a month, then one of our Standard Savings Plans could be for you. You’ll still get a guaranteed minimum return of up to £50,000 and life cover - as a qualifying life policy this means that the return you receive is free of income tax and capital gains tax.

A tax efficient way to save



With a Healthy Investment Standard Savings Plan, any proceeds you get on maturity are paid to you free of income tax and capital gains tax. It means you can now build a guaranteed cash sum on maturity of up to £50,000 - a great way to minimise your tax liability.

Know exactly what you’re going to get


When you take out your policy we’ll tell you the absolute minimum you’ll get when the plan matures (as long as you’ve kept up all of your contributions of course). This is called your sum assured.

Become a regular saver



We know it’s not always easy to remember to save, but the Healthy Investment Standard Savings Plan commits you to putting away the same amount every month - a great way to build your fund gradually.
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We’ll give you regular bonuses every year and add them to the value of your policy. Remember once a regular bonus has been added it can never be taken away - and also that the level of the bonus isn’t guaranteed and can change every year. You may also receive a final terminal bonus when the policy matures.
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Life cover means your dependents will get the guaranteed sum assured on your death, plus any bonuses that have been added, if you die during the term of the plan and all contributions are paid up to date. If you’re paying in more than £25 a month we may ask you to answer a few quick medical questions.
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Choose how long you want to save – maybe arrange it so that your plan matures on a date that coincides with something special in your life - a big birthday or a special anniversary.
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Remember the old savings accounts you had as a kid - and the feeling you had when you enjoyed the cash sum you received when the policy matured? Our Standard Savings Plan is the same kind of endowment saving plan you know and love.

Important Points


Any UK resident can invest in a Healthy Investment Standard Savings Plan providing the plan matures before they are 65.

You might consider this plan if you already have savings in a bank or building society and you are now looking to put some money in to an investment which includes life cover, has some risk but potentially higher returns and the proceeds of which are paid tax free.

You might consider this plan if you have already used your friendly society Tax Exempt Savings Plan limit of £25 per month and you want to invest more in to a similar policy.

Save from as little as £10 per month or a maximum of £275 per month (If you are already using your £25 per month Tax Exempt Allowance).

You can have your Standard Savings Plan mature on a specific date, or simply select a term between 15-25 years, providing it matures on or before your 65th birthday.

Depending on the term you choose you should see this as a medium or long term investment.

Although the Standard Savings Plan grows through bonuses, bonus rates are not guaranteed and in exceptional circumstances could be nil.

If your circumstances change and you are unable to continue your payments you may receive back less than you have invested and in the first year you are unlikely to receive back anything.

Inflation will reduce what the proceeds of the policy will be able to buy in the future.

Tax rules can change at any time.

If you have any doubt whether this Standard Savings Plan is right for you, you should seek financial advice.

If you decide to invest in a Healthy Investment Standard Savings Plan, you will be investing into our Ethical With-profits Fund, which includes a mix of stocks and shares, fixed interest bonds, commercial property and cash deposits. The mix of assets held changes over time.

Our Ethical With-profits Fund does not knowingly invest directly in companies in the alcohol, tobacco and arms industries and gambling and pornography providers.

The Society aims to provide a consistent return by smoothing the investment return to avoid volatile fluctuations in the value of your investment. Smoothing may not protect you against long term or sustained falls in the value of investments.

For further information on our Ethical With-profits Fund please click here.

Reversionary bonus
A reversionary bonus is an annual bonus, which once added to your Standard Savings Plan, can never be taken away, providing all future premiums are paid.

It’s expressed as a percent of your guaranteed sum assured so it cannot be compared to a rate of interest.

Below are previous reversionary bonus rates we’ve applied to our Standard Savings Plan:
2016 – 1.25%
2015 – 1.25%
2014 – 1.50%

The level of bonus depends on investment performance, our expenses and our solvency margin over the previous year as well as the Board’s expectations of future performance. The level of bonus also reflects the capital and bonus guarantees. The rate of bonus can change every year and could in exceptional circumstances be nil.

All reversionary bonus rates are net of charges. The bonus rate declared is the bonus rate you receive.

Interim bonuses
Unlike declared reversionary bonus rates, which can never be changed, interim bonus rates can be increased or reduced by the Board at any point during the year. The current interim bonus rates are based on a prudent view of future investment performance, solvency and expenses over the year. Interim bonus is paid on policies paid out within the year on both full withdrawal and death.

For our current interim bonus rates please contact our office.

Terminal bonuses
A terminal bonus is an additional final bonus which may also be added on maturity or in the event of the death of the investor. The rate of final bonus can be changed at any time or can be withdrawn altogether.

Life cover included
The Healthy Investment Standard Savings Plan includes life cover if you were to die during the term of the policy.

The life cover consists of the original guaranteed sum assured (this is based on the amount you choose to save and the chosen term) plus any bonuses already added to your policy.

When you complete a Standard Savings Plan application form we will ask you a few medical questions on any current and previous health issues and your current lifestyle. We will make an assessment on the details you have provided.

The sum assured you receive when you take out a Healthy Investment Standard Savings Plan is the absolute minimum you are guaranteed to receive at the end of your chosen term, providing all the premiums have been paid.

Every year we may add a bonus to your Standard Savings Plan to increase the guaranteed amount you will receive on maturity. The bonuses, which are decided by the Board, are calculated as a percentage of your original sum assured. Once a bonus has been declared and added to your policy it can never be taken away.

Bonus rates can change every year and could in exceptional circumstances be nil. They depend on investment performance and other factors.

When your policy matures you may also receive a terminal bonus to further increase your maturity amount. The terminal bonus isn’t guaranteed and can be increased, decreased or removed altogether at any time.

The level of bonus depends on investment performance, our expenses and our solvency margin over the previous year as well as the Board’s expectations of future performance.

The Key Information Document includes examples of what you might receive back based on different investment scenarios. It also helps you understand the nature, risks, costs, potential gains and losses of this product and to help you compare it with other products.

Download our latest Key Information Document for our Standard Savings Plan.

Important Documents


 

Tax Exempt Savings Plan - Without Life Cover

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Tax Exempt Savings Plan

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Make sure you have read and understood the information provided

Download and carefully read the Key Information Document. This is our standard client agreement and you should read these terms carefully for your own benefit.

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