ISA Accounts - Important Information
At Foresters Friendly Society, we explain to you exactly WHAT a product is, precisely WHY the product may suit your requirements and in simple to understand language, HOW you can apply.
It is also important for you to be aware of the following factors:
- A Bank or Building Society account has greater certainty of growth than a Foresters Friendly Society ISA. The addition of bonuses is not guaranteed and therefore it is possible that the ISA might not receive any annual and/or final bonus from the With Profits fund.
- The exact amount of money that you get back from your ISA cannot be predicted, because this will depend on the amount of money you save and the length of time you save for. Depending on the investment growth we achieve, we may or may not also pay out a final bonus.
- The value of your investment is not guaranteed and you may not get back the amount of your original investment.
- When calculating how much to give you back when you cash-in your ISA, in adverse investment conditions a Market Value Reduction may be applied. If used this would reduce the value of your ISA. We would only do this to ensure fairness between account-holders leaving the fund at different times. We will not apply an MVR on death.
- You should be aware that inflation will reduce what you can buy in the future with the fund.
- The Annual Management Charge is initially set at 2% per annum of the value of your ISA. It will not exceed 3% of the value of your ISA in any one year.
- Our deductions may turn out to be higher than expected.
- Your circumstances may change forcing you to cash in your ISA.
- The amount paid on death may be subject to Inheritance Tax.
- The rules and legislation covering the operation of ISAs may change in the future which could affect the tax status of your ISA.
- We will not be able to accept contributions in excess of each year's permitted limits.
If you are unsure as to the suitability of this product you should seek advice from an Independent Financial Adviser. You may have to pay for this advice.
You should keep your documents in a safe place - they contain important information about the ISA. You will also receive an annual statement illustrating how your policy is performing.
You must read the ISA Key Features Document before you decide to invest.
