Advantages: A good payout at the end of the insurance term Disadvantages: You need to be sure you can commit to ten years
...a few ten-year policies with Friends Provident so that I could eventually receive a lump sum payment virtually every year. The first of these matured in June 1998.
That particular one was for ten years at a constant £10 per month so I paid in a total of £1200 over the period of the policy. Each year I got a statement showing the bonus payment for the year and the extra bonus paid on the accrued bonuses from previous years. At the end of the term ... ...guaranteed but companies such as Friends Provident don't use high risk investments so I think we're pretty safe for a good payout.
And there's another advantage for me - this year Friends Provident are demutualising and the members will get a payout! I've missed out on most of the building society ones so I reckon I deserve this one! ...
SusanLesley 16.04.2001
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Ciao members have rated this review on average: very helpful Review of Friends Provident
Advantages: costs,returns, conditions, surrender value, critical illness Disadvantages: doesnt guarantee to repay the house at maturity
...anticipate receiving a large terminalbonus at maturity. my borker was excellent and explained everything, both good and bad. the literature was clear and easy to understand and it only took a week before my policy documents were sent. friends provident have consistantly been in the top 10 companies for endowments ...
richard777 31.07.2000
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Ciao members have rated this review on average: helpful Review of Friends Provident
Advantages: Some warning is better than no warning Disadvantages: No one can foecast the future economically
Like many it seems I fall into the category of those who are losing out in the Endowment market. Having taken a policy out for £27,500 back in 1992, I have recently received notice that it may be in excess of £8,000 short of its target. I pay £40 per month (level payments) and the quote to meet target in 2017 is £28. When the illustration was shown to me in 1992, 7% growth would have produced £23,500 and 10.5% would be generate £39,000. It was anticipated ... ...meaning that 27.5k would be easily attained. Now in the latest estimation a 6% growth rate is likely to generate only £19,500 (£8,000 short). We all know the reason why growth rates have not been so high, but there does seem to be at least a £2,000 difference in estimation figures.
Some accountability needs to be given to big organisations who paint a rosy picture when selling a policy. ...
Honest_Kev 13.06.2001
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Ciao members have rated this review on average: helpful Review of Friends Provident
Advantages: easy to sell for cash at a later date Disadvantages: did not perform well enough
...got a letter for friends Provident telling me it wasn't performing well enough to pay off my mortgage.
Having contacted Friends Provident, they sent me some literature regarding it's performance and what I could do ti rctify the situation, including taking out another Friends Provident policy to top it up.
I thought that this might not be a wise move, given past perormance, so decidied to contact the FSA and the consumer advice bureau for their ...
freespeech 17.01.2006
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Ciao members have rated this review on average: somewhat helpful Review of Friends Provident
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