Manage your Platinum Bond Plus
You can phone us for help with any queries you have about your Platinum Bond Plus investment.
Or, if you prefer, you can write to us:
56 Oxford Street
What can I do with my Platinum Bond Plus?
The Platinum Bond Plus is closed to new customers.
You can no longer make extra lump sum investments into this product. But you can still access your existing investment in a number of different ways.
Receive a regular income
You can receive an ‘income’ by making regular withdrawals from your Platinum Bond Plus. You can take up to 5% each year of the total amount you invested without needing to pay any tax straight away. You will need to pay tax at a later date.
Remember that taking a regular income will reduce the value of your investment.
Take out some of your money
Platinum Bond Plus is flexible. You may be able to withdraw some of your money if you need to. This will reduce the total value of your investment.
Cash in your Platinum Bond Plus
You can cash in your Platinum Bond Plus at any time. At the end of your policy, we’ll make sure you’re paid out a fair value for your investment. We do this by either adding a Final Bonus, or applying a Market Value Reduction (MVR).
Frequently asked questions
How can I find out how my Platinum Bond Plus is performing?
We’ll send you a statement once a year on the anniversary of your investment. Your statement will tell you:
- The cash-in value for your investment
- Details of any Bonuses and charges (deductions) we've made over the last year
- A leaflet about how the with-profits fund is performing
You can also get an up-to-date valuation of your Platinum Bond Plus whenever you need it, by calling us on 0844 844 22 22. We may need to send your valuation in the post, so this might take a few days. You’ll need your Policy number to hand when you call us.
How do I tell you about changes to my personal information, like my address or phone number?
Phone us on 0844 844 22 22 and we can make these changes for you over the phone. You’ll need your policy number to hand when you call us.
What Bonus Rates or Market Value Reductions (MVRs) apply to my Platinum Bond Plus at the moment?
Because every investment is different, we’ll need to look at the details of your Platinum Bond Plus to calculate a personal cash-in value for you. We'll take into account any Bonus Rates or MVRs that we would need to apply. This can be done on the phone, which will then be confirmed in writing.
You can phone us on 0844 844 22 22 or write to us to find out your cash-in value.
Because of the economic climate and market conditions of the last few years, no MVRs have been applied to Platinum Bond Plus policies since 14th February 2013.
What should I do if the person who opened the policy dies?
If the Policyholder dies while holding this investment, we try to make things as easy as possible for you.
Phone us on 0844 844 22 22 and we’ll send you a ‘Death Claim Form’ in the post. You can use it to tell us what you want to do with the investment.
You should post the form back to us, with the Death Certificate for the person who has died, once you receive this.
If you have a joint policy and one of the policyholders dies, we will convert the policy into the sole name of the surviving policyholder.
How do I cash in my Platinum Bond Plus?
Before you cash in your Platinum Bond Plus, call us on 0844 844 22 22. We’ll calculate the ‘cash-in' value, taking into account any Final Bonuses or Market Value Reductions (MVRs) we need to apply. If we need to post this to you, it could take a few days.
Then, if you want to cash-in your investment, you can either let us know over the phone or complete the ‘tear-off slip’ on your valuation and send it back to us. After that, we’ll send you a cheque.