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Friends Provident Summit - The Loyalty Bond
The Friends Provident Summit Bond is a highly flexible loyalty plan with penalty-free access to the majority of your investment amount. Features & Benefits Product Features | Investor Benefits | Minimum Premium
| USD 37,500, GBP 25,000, EUR 37,500 or HKD 375,00
| Withdrawals
| All withdrawals are penalty-free.
Allowed withdrawals:
- 90% of premium for first five years
- 100% of bid value thereafter
- Must be at least USD 750, GBP 500, EUR 750 or HKD 7,500
- Can be taken monthly, quarterly, termly, half-yearly or annually
| Loyalty Bonus
| Summit has an annual bonus paid as additional units into the plan on the third anniversary and on every anniversary after that. The bonuses are 0.50% from year 3 to 5, 0.75% from year 6 to 10 and 1.00% from year 11 onwards.
| Additional Contributions
| Minimum of USD 15,000, GBP 10,000, EUR 15,000 or HKD 150,000.
Withdrawal allowance on any additional contributions is:
- 90% of contribution for first five years
- 100% of bid value thereafter
- Withdrawals taken from oldest contribution first
- Additional contributions receive their own Establishment Charges
- Loyalty Bonus based on how long they have been in the plan
| Wide choice of funds
| In excess of 180 funds from over 35 different fund house
| Free switching facility
| Flexibility to adapt portfolio to changing opportunities at no cost, on a bid-to-bid basis, as often as you like (currently no charge is made for switching between funds, although we reserve the right to introduce a charge of up to 1% of the value of the units switched or USD 15, GBP 10, EUR 15 or HKD 150, if greater)
| Death benefit
| 101% of the surrender value
| Secure base in the Isle of Man
| Virtually tax free accumulation of your savings (some dividends may be received net of withholding tax, deducted at source in the country of origin, but once inside your plan they can accumulate free of tax)
| Friends Provident International Limited
| Confidence of investing with one of the leading offshore life companies, which is also a member of one of the world's largest international insurers
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