Bonus Statement
Additional Information
Glossary of Terms
| Certificate Number (Column 1- AWP) |
A unique reference number that identifies your plan or investment with the Society. Please ensure you quote this number when contacting us. |
| Table (Column 2- CWP) (Column 3 - AWP) |
Our benefit tables, including those closed to new business, are published on our website and are available on request. |
| Maturity Date (Column 2 - AWP) |
The date your plan ends and pays out. |
| Total Premium(s) (Column 4 - AWP) |
This is usually the minimum amount originally guaranteed under the contract (Tables 19, 24, 25, 26 and 27). |
| With-Profit Sum Assured (Column 4 - CWP) |
The minimum benefit originally guaranteed under this plan, subject to all the premiums being paid. |
| Total Payment(s) Made (Column 5 - AWP) |
The minimum benefit originally guaranteed under this plan, subject to all the premiums being paid. |
| Bonus Rate (Column 5 - CWP) (Column 6 - AWP) |
The percentage at which your bonus has been paid for this year. (See "Points to Remember"). |
| Reversionary Bonuses to Last Year (Column 6 - CWP) |
The total amount of bonuses previously added to your plan. |
| Annual Bonuses to Last Year (Column 7 - AWP) |
The total amount of bonuses previously added to your plan. |
| New Reversionary Bonuses (Column 7 - CWP) |
The amount of bonus now added to your plan for the most recent calendar year. |
| New Annual Bonus (Column 8 - AWP) |
The amount of bonus now added to your contracts for the most recent calendar year. |
| Total of Sum Assured & Bonuses. (Column 8 - CWP) |
The minimum benefit currently guaranteed under each plan. Please note this figure is based on the assumption that all premiums are paid. This figure is increased annually when bonuses are added to the plan. NB This is not a surrender value - If you decide to surrender this contract,the Society will be pleased to provide you with details of the current surrender value. |
| Total Benefit (Column 9 - AWP) |
This figure is revised annually when bonuses are added, and when we make any payment to you under Tables 20 or 26. NB This is not a surrender value - If you decide to surrender this contract, the Society will be pleased to provide you with details of the current surrender value. It is possible for the surrender value to be lower than the Total Benefit if we need to apply a market value reduction. No such reduction currently applies. Final bonuses currently apply from the third anniversary onwards. |
| Interim Bonus | An interim bonus is added to the Total Benefit to cover the period from 31st December to the date of death or encashment. |
| Final Bonus | A final bonus is usually added at the time of death or encashment. The rate of bonus reflects investment profits which are not already distributed by way of Annual Bonuses. |