So how does it all work?
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Choose monthly contributions to suit you
Saving for your future doesn't have to cost much. You can choose to save any amount between £50 and £100 a month. If you wish to save more than £100 per month, you are able to take out more than one plan.
If you use the plan to save for a child's future, you will have the peace of mind of knowing that the money from the plan will be paid to you, so you can help to decide what it is spent on.
The Guaranteed Savings Plan is suitable as a long-term regular savings plan and you must continue to pay your chosen monthly contribution for the term of the plan for the guarantees to apply.
You decide how long you save for
You can select any term from 10 to 25 years and you can even pick a special or specific date for your plan to mature.
What we mean by 'Guaranteed cash sum and in-built growth'?
The plan guarantees to pay out more than you have paid in when it comes to the end of its term. What's more the higher your monthly contribution, the larger your in-built growth will be.
The guarantee is based on you maintaining your contributions for the full term of the plan.
The tables below demonstrate the level of in-built growth alone, without taking any additional growth into consideration.
The guarantee only applies when all monthly payments are maintained for the full term of the plan. Please remember that this is a long-term savings plan, if you cash it in before the end of the selected term you could get back less than you have paid in, or nothing if this is in the first year.
Is there potential for additional growth?
In a word - Yes. All the money paid into the Guaranteed Savings Plan goes into our with profits Order Insurance Fund, which is invested across a balanced mix of assets - including property, UK government bonds, equities and cash - to help minimise over-exposure to risk. There is no interest rate on the plan, instead the Order Insurance Fund provides your plan with the potential for growth, by way of bonuses which may be added annually as well as an additional final bonus when the plan matures.
Bonuses are in addition to the guaranteed return and add to the overall growth of your plan increasing the amount you will receive at maturity, provided you continue to pay your monthly contributions for the full term of the plan.
Over the past 6 years, we have paid bonuses on all the plans we are currently selling, however the addition of bonuses is not guaranteed and will depend on the performance of the with profits Order Insurance Fund and how we decide to distribute the profits.
Please refer to the Guaranteed Savings Plan Key Features Document for further information on how our with profits Order Insurance Fund works.
Other benefits of taking out a Guaranteed Savings Plan
As a Foresters member, you will have access to Foresters Extras - a range of discretionary benefits we offer at no additional cost which include:
- dental or optical grants to assist with covering costs are available to claim each year
- discretionary grants including Educational Awards to assist with the costs of higher education or training.
These membership benefits aren't regulated and are regularly reviewed by us to make sure our members get the best options.
Guaranteed Savings Plan - Product Performance >>