Over 50s Life Cover performance - POIS

Previous annual bonus rates

We have paid annual bonuses on our Over 50s Life Cover policy for the past 11 years.

  • In 2018 the annual bonus rate was 1% of the guaranteed lump sum and 1% of previous bonuses


The guaranteed lump sum is the level of cover you choose when you take out the policy. We aim to declare a bonus on this amount annually and these bonuses will then increase the policy’s guaranteed lump sum for future year’s bonus declarations.

So, if your guaranteed level of cover was £10,000, using the annual bonus rate for 2018, we will add a bonus of 1% to this (£100). If you have previous bonuses that have been added to your plan, these will potentially benefit from a bonus too i.e. 1% of £100 = £1. The bonuses added to your plan will then become part of the guaranteed lump sum and any future bonuses will be applied to the increased lump sum.

When you pass away and your loved ones claim on the policy, we also aim to add a final bonus to increase the total value of the policy.

The addition of any bonuses is not guaranteed. Bonuses will depend on the future performance of our Order Insurance with profits Fund and how we decide to distribute any profit.

To find out more about the addition of bonuses and how we manage our fund please read our Principles and Practices of Financial Management (PPFM).

We may vary the design of a product to best meet the needs of our policyholders which may affect the timing and size of future bonuses. Therefore the above bonus rate is provided for information purposes only and should not be considered an indication of likely future performance.