These are the 'Key Features' of the
5 Year and Flexible Savings Plans

"Why should I read this document"

The Financial Services Authority is the independent financial services regulator. It requires us, the Metropolitan Police Friendly Society, to give you this important information to help you decide if either our 5 Year Plan or Flexible Savings Plan is right for you. You should read this document carefully so that you understand what you are buying, and then keep it safe for future reference.

We want you to be comfortable that you understand the 'Key Features' of these products before you decide to proceed. If you do not understand something in this document, please feel free to contact us.

Its aims

5 Year Plan

  • To provide a lump sum at the end of 5 years' regular savings.
  • To provide a death benefit during the 5 year term.
  • To provide a guaranteed minimum benefit - the Sum Assured.

Flexible Savings Plan

  • To let you save on a regular basis.
  • To provide flexibility on cashing-in by issuing a separate membership certificate for each year's premiums.

Your commitment

  • You agree to save a regular monthly sum (which cannot be varied under the 5 Year Plan) by salary deduction or direct debit.
  • You must give us all medical and other information we ask for when applying for your plan and advise us of any material changes occuring after you complete your application form but before the plan starts (5 Year Plan only).

Risks

  • Your circumstances may change, forcing you to cash in early.
  • If you cash in or stop paying premiums in the early years, then you may not get back as much as you pay in.
  • Our charges may be higher than illustrated.
  • What you get will depend on investment performance - returns may be lower than illustrated.

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