Family Bonds frequently asked questions

See below for some common questions about our Family Bonds. If you have a question that isn't answered here, feel free to contact our friendly, UK-based call centre for more information.

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How do I know if I’m eligible for a Family Bond?

How much can I invest?

Because of the favourable tax treatment, the Government has set maximum limits of £25 a month or £270 per year. You can make these payments by Direct Debit. If you already have one or more TESPs with us you can still apply for another one, and invest as little as £10 a month or £100 a year, as long as you don’t exceed the maximum limits.

The Family Bond is a qualifying policy. There is an overall limit of £3,600 per year that can be paid into qualifying policies that you hold. If you have one of these policies, regular yearly or monthly payments will be made and the policy will have an initial payment term of at least 10 years. The policy will also include some life cover.

What are Tax Exempt Savings Plans (TESPs)?

How long can I invest for?

What if I change my mind?

What happens if I want or need to cash it in early?

What are the charges?

There is an annual management charge of 1.95%. There may also be expenses deducted from the Family Balanced International Fund, in which the Family Global Fund invests. This may change, but the effect on the Family Global Fund is currently estimated to be no more than 0.2% of its value each year.

There’s also a charge for life cover, which we take each year on the Family Bond’s anniversary by cashing in units. We only take this if the value of the Family Bond is less than the amount of life cover. Please refer to 'Charges' in the Important Information booklet and the Key Information document.