News Release
28 August 2008
Friends Provident International unveils Summit ¡V the loyalty bond
Friends Provident International (FPI) announced today the launch of Summit ¡V the loyalty bond (Summit), a flexible single premium bond with a loyalty bonus. Summit offers investors a good balance of growth potential and peace of mind.
Investors are rewarded for their loyalty with a bonus, dependent on how long the plan is held. The loyalty bonus is paid as additional units into the plan from the third anniversary and goes from 0.50% of bid value from year 3 up to a maximum bonus of 1% from year 11 onwards. * Investors can access their capital with penalty-free withdrawals of up to 90% of their premium from day one.**
Summit offers a range of features including:
- No initial charge - 100% of the premium is invested
- Over 100 funds managed by investment specialists
- Potential for tax-free investing
- Free fund switching
- Choice of plan currency
- Top-ups can be made at any time
- 101% death benefit
- Comprehensive range of trusts
Paul Tunnicliffe, director of international operations at Friends Provident International, said
¡§Summit offers investors the perfect combination of choice and flexibility. In addition the new loyalty bond highlights our commitment to developing long-term relationships with our customers.¡¨
The minimum investment is HKD 375,000 or currency equivalent of USD 37,500, GBP 25,000 or EUR 37,500.
For further information advisers should contact their FPI regional sales manager or visit www.fpinternational.com.hk.
Investment involves risk. Past performance should not be viewed as an indication of future performance. Fund prices may go up and down depending upon underlying investment performance, and the value of your investment cannot be guaranteed. Investments held within a fund may not be denominated in the currency of that fund and the value of those assets can go up and down simply because of movements in currency exchange rates. All fund performance quoted is net of annual charges. You may get back less than you paid in.
- Ends -
Notes to editors
* If withdrawals are made they will reduce the bid value of the plan, which means the loyalty bonus will also be reduced.
**Your withdrawals may be restricted by a minimum total plan value and a minimum withdrawal amount.
About Friends Provident:
Friends Provident Life and Pensions Limited is part of the Friends Provident Group of companies, which comprises UK Life & Pensions, International Life & Pensions and Asset Management. The holding company Friends Provident plc is a member of the FTSE 100.
About Friends Provident International:
Friends Provident International (FPI) is the international component of Friends Provident's business, which operates throughout the UK, Europe, Asia, and the Middle East. FPI has been active in the Hong Kong market for 20 years.
See www.fpinternational.com.hk for further information on Friends Provident International in Hong Kong.
IMPORTANT INFORMATION
Friends Provident International is a trading name of Friends Provident Life and Pensions Limited and Friends Provident Life Assurance Limited for business conducted outside the United Kingdom.
Registered & Head office: Pixham End, Dorking, Surrey RH4 1QA, England
Incorporated companies limited by shares and registered in England. Friends Provident Life and Pensions Limited. Registered number 4096141
Friends Provident Life Assurance Limited. Registered number 782698 authorised and regulated in the United Kingdom by the Financial Services Authority.
Salisbury Office: United Kingdom House, Castle Street, Salisbury, Wiltshire SP1 3SH, England
Telephone number: +44(0) 1722 311 611
Facsimile number: +44(0) 1481 712 069
Friends Provident International is a trading name of Friends Provident International Limited.
Registered & Head Office: Royal Court, Castletown, Isle of Man, British Isles, IM9 1RA
Telephone number: +44(0) 1624 821 821
Facsimile number: +44(0) 1624 824 405
Authorised by the Isle of Man Insurance and Pensions Authority.
Incorporated company limited by shares. Registered in the Isle of Man No. 11494
All are members of the Association of International Life Offices.
Hong Kong Office: Suites 1203-1211, Two Pacific Place, 88 Queensway, Hong Kong
Telephone number: +852 2524 2027
Facsimile number: +852 2868 4983
The rules and regulations made by the Financial Services Authority for the protection of investors will not normally apply to persons resident outside the United Kingdom.
Policyholders will receive the protection of the life assurance (Compensation of Policyholders) Regulations 1991 of the Isle of Man.
Full terms and conditions can be obtained by contacting Friends Provident International using the details above or by visiting our website www.fpinternational.com.hk
The information in this document is based on our understanding of UK, Guernsey and Isle of Man Law and practice as at January 2008. Please note that tax legislation may change in the future.
Copyright© 2008 Friends Provident International. All rights reserved.
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