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With Profits - How it Works

What you need to know to make an informed choice

Please remember that the value of investments and any income can go down as well as up and you may get back less than you invest.

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 0800 294 1508.

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 0800 294 1508.

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 0800 294 1508.


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 Profits 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.

The percentage mix of assets backing our With Profits policies

 

30 Jun 2016

31 Dec 2015

30 Jun 2015

 Equity shares

        60%

         60%

        61%

 Property

          7%

          8%

        7%

 Fixed interest

        23%

        20%

        22%

 Other

        10%

        12%

        10%


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

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'WESLEYAN’ is a trading name of the Wesleyan Group of companies.

Wesleyan Assurance Society and Wesleyan Bank Ltd are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Wesleyan Financial Services Ltd, Wesleyan Unit Trust Managers Ltd, Syscap Ltd, Practice Plan Ltd and DPAS Ltd are authorised and regulated by the Financial Conduct Authority.  Advice about investments, insurance and mortgages is provided by Wesleyan Financial Services Ltd.

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