What is Platinum Plus ISA?
This type of investment carries a degree of risk. Its value can go down as well as up, so you might get back less than you put in. This can be held as an ISA or stand-alone policy.
For a summary of your Platinum Plus ISA, 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.
Money that has been invested in an ISA wrapper is not subject to income or capital gains tax.
*You can ask for a valuation of your investment at any time by calling us on 0345 605 7777.
We may apply a Final Bonus when you cash in your plan, 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 Final Bonus on your annual statement. Or, if you ask for a valuation of your plan over the phone, we’ll include this for you as part of the valuation.
Market Value Reduction (MVR)
When you cash in your policy, we may apply a Market Value Reduction (MVR) to lower the value of your policy. This is to make sure you are paid a fair value for your investment at the time. We won't apply an MVR if you die.
Because of the economic climate and market conditions over the last few years, no MVRs have been applied to Platinum Plus policies since 14th February 2013.
You can find out more about MVRs and these rates by reading our brochure:
Platinum Plus, an overview of your with-profits investment [PDF, 657KB]
Platinum Plus is a medium to long-term investment and there’s no fixed end date, so you can invest for as long as you like.
Platinum 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. We will not apply an MVR in the event of a death claim.