Your with-profits policy value will continue to grow each year when an annual bonus is added
When the Britannic Industrial Branch fund closes, with-profit policies will become non-profit and will move to the Non-Profit Fund. Although non-profit policies don’t normally receive bonuses, we want to keep things as consistent as possible. So, we’ll continue to pay both annual and final bonuses.
Giving you certainty over the future of your policy
Bonuses will no longer be linked to the performance of the Britannic Industrial Branch Fund. Instead, future bonuses will be fixed and guaranteed.
If your policy is with-profits when the fund closes:
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Your future annual bonuses will be set at a fixed rate of your policy value
This means that as your policy value grows, the amount of your guaranteed annual bonus will also go up each year.
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Your final bonus will be a fixed amount
This means you’ll know the final bonus amount in advance.
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We understand how important it is to know what to expect from your policy. So, we’ll tell you in advance what your guaranteed bonuses will be.
We can’t confirm what your future bonuses will be just yet
We’ll work out your future guaranteed bonuses after the fund has closed. We expect to write to you around January 2027 with the information you need.
Find out what’s next in our timeline.
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How to make sure you continue to receive bonuses after the fund has closed
We understand it’s not always easy to keep up with the premium payments that are due on your policy. You may choose to stop paying for a while or stop altogether.
Stopping your premiums too early could have an impact on your future bonuses.