Introduction

These monthly premium plans are offered by Friendly Societies and Life Insurance companies. Provided you do not cash them in before 10 years, there is no liability to tax on the profit you make - even if you are a higher rate tax payer. Moreover, we do not pay tax on the interest and capital gains, so we can pay higher bonuses than on other long term savings plans.

You can choose to save over a term of 10-35 years in the 'Endowment Plan', or you can choose our 'Whole Life Plan' where you will pay premiums for 10 years only, but you will then have the option of leaving your savings to grow for as long as you want without having to pay any further premiums.

Premiums are limited by HM Revenue & Customs to £25 per month because of the generous tax concessions. This does not affect your ISA allowances in any way - you can invest in both types of savings up to the maximum in each. We also offer a Stocks and Shares ISA.