What is Platinum Bond Plus?
This type of investment involves a degree of risk. Its value can go down as well as up, so you might get back less than you put in.
For a summary of your Platinum Bond Plus with-profits investment, please see our Platinum Plus: An overview of your with-profits investment document (PDF - 657KB)
We'll send you a statement once a year, on the anniversary of your investment to let you know how it's performing*
Each year, we may add an annual bonus to your investment.
There's no fixed end date. So you can invest for as long as you like.
You can make withdrawals from this investment, to give you a 'regular income'.
*You can ask for a valuation of your investment at any time by calling us on 0345 605 7777.
You can cash in all, or part of, your investment at any time.
When you do, we need to make sure we pay you a fair value for your investment at that time by applying a Final Bonus, or a Market Value Reduction (MVR). Remember that if you make a partial withdrawal this will reduce the value of your investment.
We may apply a Final Bonus to top up your investment when you cash in your Bond, or in the event of your death. This makes sure we pay you a fair value for your investment at the time. You can find details of any Final Bonus on your annual statement. Or, if you ask for a valuation of your Bond over the phone, we’ll include this for you as part of the valuation.
Market Value Reduction (MVR)
When you cash in your Bond, we may apply a Market Value Reduction (MVR) to lower the value of your bond. This is to make sure you are paid a fair value for your investment at the time. We will not apply a MVR if you die.
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.
You can find out more about MVRs and these rates by reading our brochure.
You can make withdrawals from this investment, to give you a ‘regular income’. Up to 5% each year of the total amount you invested at the time without needing to pay any tax straight away.
Platinum Bond Plus is also a life assurance policy. When the person covered by the plan dies, we'll pay 101% of the plan value plus any further bonuses added at that time. The death benefit won't be lower than the premiums you've paid, less any money you've withdrawn from your policy.
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.
We'll send you a statement once a year, on the anniversary of your investment, to let you know how it’s performing. Your statement will tell you if we've added an Annual Bonus to your investment. You'll also be able to see the current Bonus Rate or if we'd charge you any MVR if you wanted to cash in your investment.
You can ask for a valuation of your investment at any time by calling us on 03456 057777.