What you need to know to make an informed choice
We have written three short booklets to explain how our With
Profits Funds work. We recommend that you read these booklets,
available from the bottom of the page, as they cover areas such
as:
- How your payout depends on what guarantees your policy makes,
and on any bonuses we add
- How we decide bonuses
- How your payout might be affected if you stop your policy
- What sort of investments are made, and how we aim to shelter
you from short-term highs and lows
- Where you can find out more
If after reading these booklets, you have any queries, please
contact your Financial Consultant or ring our helpline on 0845 351
2352.
What booklet do I need to read?
We have two With Profits Funds:
- The Medical Sickness Society Fund for Medical Sickness Society
policies purchased before our merger in July 1997. This was closed
to new policies at the time of the merger and is covered in its own
booklet
- The Wesleyan Open Fund for all other policies. One booklet
covers policies where premiums are not used to buy units. Another
booklet covers policies where premiums are used to buy units
You may have more than one policy with us, and so may need to
read more than one of the booklets.
If you have With Profits policies with other insurance
companies, you should also read their booklets as each fund can
work differently. If you are unsure about what type of policy you
have with us, please contact your Financial Consultant or ring our
helpline on 0845 351 2352.
How can I get copies of the booklets?
The booklets can be downloaded from the links below. Paper
copies are available from your Financial Consultant or from our
helpline on 0845 351 2352.
All With Profits policyholders will have been sent the relevant
booklet(s) with their 2006 annual bonus statement(s).
Anyone buying a With Profits policy from 1st January 2006 will
also be provided with the relevant booklet at the time.
More detailed guides to the With Profit
Funds (Principles & Practices of Financial Management)
Every year we will report to With Profit policyholders on our
compliance with our PPFM. As for the PPFM itself, there is a
separate report for each of the two funds. The latest reports can
be found as pdfs at the bottom of this page.
Market Value Reductions (MVRs)
With Profits policies are designed to smooth
out the highs and lows of the stock markets. This means that in
general when the markets are low we pay out more than your
investments have actually earned, and when they are high we pay out
less than they have earned.
The amount we pay out is therefore less volatile than the stock
markets, which is an attractive feature of these policies.
More
information on MVRs
Resources
Click an item below to download the publication
