Friends Provident International has launched an international investment bond with two distinct cha...
Friends Provident International has launched an international investment bond with two distinct charging structures.
The Guernsey-based Friends Provident International Investment Bond is available in the Reward Option, which offers a traditional charging structure with an initial charge and the Loyalty Option, which allows product charges to be spread over the lifetime of the bond.
The Loyalty Option also adds extra units at the rate of 0.5% per annum of the bid value after five years and a one-off loyalty bonus of 2% of the value of units, after 10 years' continuous investment.
Other features of the bond include withdrawals of up to 7.5% per annum of total investment without penalty, up to 12 free switches per policy year and a minimum investment of £5,000.
Adrian Nurse, director of Friends Provident International, said: 'This development, following so quickly after announcing our proposed acquisition of Royal & Sun Alliance International Financial Services, is in line with our stated strategy to develop our combined product range and improve our international presence.'
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