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Family Flexible Plan

Beat the taxman together

Work together to benefit your family

Family Flexible Plan allows you to pool your family investments together. The purpose of the plan is to let you invest as a family and beat the taxman together! You invest for 15 years but each family member’s policy has built in flexibility, allowing you to cash in your plan early if you need to. Take a glance at the table below for a useful summary of the plan and visit the in detail tab for more information on Family Flexible Plan.

Get more of out of family savings and investments by pooling your investments
i Your Family Flexible Plan i Things you should consider
  • Build a regular savings habit together using your tax-free savings allowance. Invest from £15 to £25 per month per family member for at least 10 years and a maximum of 15 years.
  • Give your money the long term growth potential of the UK stock market.
  • Your money will be invested in our UK Tracker Fund which is designed to track the UK stock market which features leading UK companies like Tesco, BSkyB and BT.
  • Flexibility is built in, allowing you to cash in early.
  • A small amount of life cover for selected family members is automatically included as a condition of the tax benefits.
  • Individual policies will be the property of the selected family member and not the payer.
  • Stock market investments can go down as well as up and you could get back less than you have paid in.
  • Tax-free means the fund your plan invests in grows free of income and capital gains tax (other than tax on dividends from UK shares).
  • Tax treatment depends on your individual circumstances and tax law may change in future.
  • If the plan is accessed before 10 years the plan owner may have a tax charge to pay and there will be a £50 deduction from the cash-in value.
  • The cost of life cover is included as a small part of the each family member’s plan charges. The cost of life cover depends on your age and the amount you pay in.
  • To apply you need to be a UK resident aged up to 64.

Find out more

 

No advice has been provided by Scottish Friendly in relation to this plan. If you are in any doubt as to whether this plan is suitable for you, you should contact a financial adviser for advice. If you do not have a financial adviser, you can get details of local financial advisers by visiting www.unbiased.co.uk. Advisers may charge for providing such advice and should confirm any cost beforehand.

Taking out an investment plan with us is straightforward

Thank you for choosing to apply. All you have to do is follow three simple steps:

  1. Before you apply, please ensure that you have read and understood the information provided on the Family Flexible Plan.
  2. Then download and carefully read the Key Features for adults and Key Features for child investments.
  3. Finally complete the online application, specifying the date on which you wish payments to start and we'll begin processing your plan immediately.

Apply now

Before you continue, you should ensure you have read and understood the Key Features document. This is our standard client agreement upon which we intend to rely. For your own benefit and protection you should read these terms carefully. If you do not understand any point please ask for further information.

Call us on 0333 323 5433 if you have any further questions about this plan or how to apply for a Family Flexible Plan. The information provided relates to Scottish Friendly only.

Lines are open 8.30am-5.30pm, Monday to Friday.

Scottish Friendly may record and monitor calls.

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Scottish Friendly is not responsible for the accuracy of the information displayed on externally linked third party websites. The Scottish Friendly Group of Companies consists of the following companies: Scottish Friendly Assurance Society Limited – Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Member of AFM, Member of ABI: Life, Savings and Investments. Scottish Friendly Asset Managers Limited – Authorised and regulated by the Financial Conduct Authority. Member of IMA. Registered in Scotland No 187215: OEIC Managers, ISA Managers. Scottish Friendly Insurance Services Limited – Authorised and regulated by the Financial Conduct Authority. Registered in Scotland No 113007. SFIS (Nominees) Limited - Registered in Scotland No 397351. Head office: Scottish Friendly House, 16 Blythswood Square, Glasgow G2 4HJ.