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A Friendly rise in with-profits rates
GLASGOW-BASED Scottish Friendly has revealed its bonus rates for with-profits policyholders with plans maturing in May.
Ten-year policies will have a bonus rate of 25 per cent, bonuses on 15-year plans will be 26 per cent and 20-year plans will have a bonus of 27 per cent. The rates are all 2 percentage points higher than the comparable figures for 2007.
For someone aged 30 at the start of a policy who has invested 50 a month, the payout on a 25-year policy maturing on 1 May will be 46,022, a return of 8.04 per cent a year. Annual bonuses remain unchanged at 0.5 per cent of the amount assured plus 2 per cent of previously declared bonuses.
With-profits policies are long-term savings plans investing in a range of assets.
Jim Galbraith, director of strategy at Scottish Friendly, said: "Despite a difficult past year for the stock market, our expert fund management has seen our with-profits fund produce healthy returns."
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Thursday 24 May 2012
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