LOOKING AFTER YOUR INVESTMENT PORTFOLIO BOND

Transcription

1 INVESTMENT PORTFOLIO BOND LOOKING AFTER YOUR INVESTMENT PORTFOLIO BOND

2 In choosing our Investment Portfolio Bond you have made a large financial commitment. This booklet contains important information about your investment and is designed to give you all the necessary forms you need to manage your investment. Before you make any changes to your investment, we recommend that you speak to your financial adviser. KEEP YOUR POLICY SCHEDULES SAFE Your enclosed policy schedules are important documents, as you will need them to cash-in your investment. Please keep them in a safe place along with your policy provisions. KEEPING TRACK OF YOUR INVESTMENT We will send you a statement every year, which will include an upto-date valuation of your bond. If you want to follow the progress of your investment more frequently, you can contact your financial adviser. Alternatively, you can always get a valuation by telephoning our Customer Contact Centre (see below). ADDING TO YOUR INVESTMENT You can ask us about adding to your bond. The minimum is 1,000 but this can change or we might not accept an additional investment. To do this, either talk to your financial adviser or complete and return the form called Request to add your Investment Portfolio Bond. TAKING AN INCOME OR TAKING REGULAR WITHDRAWALS You can change the regular withdrawal amount that you make from your bond at any time, free of charge. If you wish to change your existing arrangements, start to take an income or take regular withdrawals, please complete and return the form called Income/ Regular withdrawals instructions. CHANGE OF BANK OR BUILDING SOCIETY ACCOUNT If we are making payments from your bond directly into your bank or building society account, please let us know if any of the details change by writing to: Scottish Widows, PO Box 28117, 15 Dalkeith Road, Edinburgh EH16 9AN. MAKING ONE-OFF WITHDRAWALS Your bond is a medium to long-term investment and as such is designed to be held for at least five years. However, you can choose to take one-off withdrawals from it (or even cash it in completely) at any time, though in some circumstances there may be a delay. If you want to make a one-off withdrawal, please complete and return the Request for a one-off withdrawal form. SWITCHING BETWEEN FUNDS Your Investment Portfolio Bond allows you to invest in a range of different funds. We recognise that investors objectives change over time and, therefore, you can switch between funds (though there may be a delay in some circumstances). The first 12 switches in any one year of your policy are free. If you would like to switch between funds, please complete and return the Fund switch form. CHANGE OF ADDRESS It is important that we have your correct correspondence address so that we can keep you fully informed about the progress of your investment and advise you of any changes to it. If your address changes, please complete and return the Change of address form. ADDITIONAL FORMS If you need additional copies of any of these forms, please telephone our Customer Contact Centre on Please note that we may record phone conversations to help us prevent fraud and for staff training purposes. Customer Contact Centre (open Monday to Friday 8.30am to 6.00pm) Scottish Widows Limited. Registered in England and Wales No Registered office in the United Kingdom at 25 Gresham Street, London EC2V 7HN. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number /17

3 INVESTMENT PORTFOLIO BOND REQUEST TO ADD YOUR INVESTMENT PORTFOLIO FUND DETAILS OF CUSTOMER(S) (please complete in CAPITAL LETTERS) First applicant Full name(s) Address Date of birth (DD MM YYYY) Occupation Nationality Country of residence (if other than the UK) Second Applicant Full name(s) Address Date of birth (DD MM YYYY) Occupation Nationality Country of residence (if other than the UK) Full name(s) of life (lives) assured if different from the applicant(s) Bond policy number(s) Illustration reference number (if applicable)

4 PAYMENT AMOUNT If you have received advice, your adviser will have told you the cost of this advice and you will have paid for this separately. Please complete only one section below, depending on how you wish to add to your investment. Lump sum only I/we wish to make an additional lump sum payment of Lump sum and monthly payment I/we wish to make an additional lump sum payment of and increase my/our monthly payments to per month. Monthly payment only I/we wish to begin making monthly payments of per month. I/we wish to increase my/our monthly payments to per month. If you wish to make monthly payments, please ensure you complete the direct debit form at the end of this application. Cheques should be made payable to Scottish Widows Limited for a minimum of 1,000 in whole pounds only. To help prevent fraud, you should also add the policyholder name and/or the policy number. For example: Scottish Widows Limited A N Other, policy no You should also draw a line through any unused space on the cheque so that unauthorised people cannot add extra numbers or names. SOURCE OF WEALTH First applicant i.) What is your current employment Employed Self-employed Retired Other (please specify) ii.) What is your occupation? iii.) What is your employer s name and address? iv.) What is your current annual income? v.) Please indicate where the money for this investment has come from: Income from employment House sale Company sale Inheritance Gift Divorce settlement Other (please specify) Second applicant i.) What is your current employment Employed Self-employed Retired Other (please specify) ii.) What is your occupation? iii.) What is your employer s name and address? iv.) What is your current annual income? v.) Please indicate where the money for this investment has come from: Other (please specify) Income from employment House sale Company sale Inheritance Gift Divorce settlement Clerical Medical (a trading name of Scottish Widows Limited) reserves the right to request further documentary evidence of source of wealth should it be considered necessary. Please note that missing information may delay the processing of the application or settlement monies.

5 FUND CHOICE These funds are designed for you to place all of your investment into a single fund. However, you can invest in multiple Growth Funds if you wish. Please note that if you are investing in an Income Distributing Fund below, you can only invest in one fund. Please also note that, for any new investments into an Income Distributing Fund, we will not make any income payments for at least 12 months. See your Key Information Documents (KIDs) and Additional Information Document (AID) for further details. If you do wish to invest in more than one fund, please tick the relevant boxes and enter the percentage of your money to be invested in each fund. Please ensure that the total figure adds up to 100% in all cases. Growth Funds Income Distributing Funds SW Wealth Defensive Fund % SW Wealth Higher Yield Balanced Fund SW Wealth Cautious Fund % SW Wealth Discovery Fund % SW Wealth Balanced Fund % SW Wealth Progressive Fund % Please note that Income Distributing Fund(s) should not be selected if the bond is held under trust. SW Wealth Dynamic Fund % SW Wealth Adventurous Fund % SW Wealth Liquidity Fund % INCOME/REGULAR WITHDRAWALS Any existing income or regular withdrawal arrangements on your current Investment Portfolio Bond will continue unaltered as a result of this additional investment. If you wish to amend your income/regular withdrawals, please also complete and return the Income/Regular withdrawals instructions. DECLARATION (TO BE SIGNED BY ALL APPLICANT(S)) I/We understand that Clerical Medical reserves the right not to accept this application, in which case my/our investment will be returned. DATA PROTECTION ACT Your information will be held by Clerical Medical which is part of the Lloyds Banking Group. More information on the Lloyds Banking Group can be found at We may ask you to provide physical forms of identity verification when you open your investment or plan. Alternatively, we may search credit reference agency files in assessing your application. The agency also gives us other details and information from the Electoral Register to verify your identity. The agency keeps a record of our search, whether or not your application proceeds. Our search is not seen or used by lenders to assess your ability to obtain credit. We will share your personal information from your application with fraud prevention agencies. If necessary a copy of the application form and any other supporting information may be given to a reassurance company who will share the risk with us. If false or inaccurate information is provided and fraud is identified, details of this fraud will be passed to these agencies to prevent fraud and money laundering. Further details explaining how information held by the fraud prevention agencies may be used can be obtained by reading the privacy notice at If you make a claim, any information you give to us, may be put onto a register of claims and shared with other insurers to prevent fraudulent claims. Your personal information will be shared within the Lloyds Banking Group so that we and any other companies in our Group can look after your relationship with us. By sharing this information it enables us to better understand your needs and provide products in the efficient way that you expect.

6 DECLARATION (TO BE SIGNED BY ALL APPLICANT(S)) (continued) Any information which you have provided relating to your health or lifestyle is required for underwriting purposes and is defined as sensitive data by the Data Protection Act This information will be held securely with access limited to those who need to see it. It is important that you understand how the personal information you give us will be used. Therefore, we strongly advise that you read our Privacy Statement, which you can find at or you can ask us for a copy. By signing this application/declaration you agree to your personal information being used in the ways we describe in our Privacy Statement. Please let us know if you have any questions about the use of your personal information. Lloyds Banking Group companies may use your information to contact you by mail, telephone, or text message about products and services that may be of interest to you. If you do not wish to receive this information please tick this box. Signature(s) of all applicant(s): Date (DD MM YYYY) NOTES 1. Copies of the completed application and the policy provisions are available on request. 2. The minimum additional amount that can be invested is 1, The minimum regular premium is 250 pm. 4. You must be aged 80 or less to add to your investment. 5. If you invest in one of our Income Distributing Funds, then the whole of your investment must be in that fund only. 6. Each policy is a legally separate entity and any income and withdrawals from each segment are treated as a return of capital. For example, income distributions or regular withdrawals exceeding 5% per annum of your total payment amount may give rise to a tax charge. Please see your Key Information Documents (KIDs) and Additional Information Document (AID) or contact your financial adviser for more information. Please return this form and, if appropriate, your cheque made payable to Scottish Widows Limited to: Scottish Widows, PO Box 28117, 15 Dalkeith Road, Edinburgh EH16 9AN. Scottish Widows Limited. Registered in England and Wales No Registered office in the United Kingdom at 25 Gresham Street, London EC2V 7HN. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number /17

7 INVESTMENT PORTFOLIO BOND INCOME/REGULAR WITHDRAWLS INSTRUCTION DETAILS OF CUSTOMER(S) (please complete in CAPITAL LETTERS) First bondholder Full name(s) Address Date of birth (DD MM YYYY) Second bondholder Full name(s) Address Date of birth (DD MM YYYY) Bond policy number(s) TYPE OF INCOME Please complete either section i or ii below if you want to start making regular withdrawals or taking an income from your bond or if you wish to change your existing instructions. Please complete section iii if you want to stop taking any income from your bond. i) Regular withdrawals (not available if you are investing into an Income Distributing Fund) The minimum withdrawal is 30 a month/ 360 a year and the maximum is 7.5% a year of your total cash investment. I/We would like to make a regular withdrawal from my/our bond as follows: A fixed amount of each payment or % each year of my total investment I/We would like regular withdrawals to be paid: Monthly Every 3 months Every 6 months Once a year Please pay my regular withdrawals on the day of the month (1st to 28th available). commencing on (DD MM YYYY) This date must be at least 30 days after the start of your bond. If your chosen date falls within 30 days of the start of your bond, the first payment will automatically be paid on the same day of the following month. Please note that this is the date payment originates from Scottish Widows. It may take up to seven days for the funds to clear into your account. I/We would like regular withdrawals to be paid: Indefinitely or for years months Regular withdrawals will be funded by cancelling sufficient units equally across all policies.

8 OR ii) Income distributions (only available when the whole of your investment is an Income Distributing Fund) I/We would like to receive the full distributions from my investment. I/We would like this paid: Every six months (on 18 February and 18 August) or Every month (on the 18th of each month) To enable me/us to start taking income distributions, please switch the whole of my existing investment into an income producing fund. SW Wealth Higher Yield Balanced Fund Please also note that, for any new investments into an Income Distributing Fund, we will not make any income payments for at least 12 months. See your Key Information Documents (KIDs) and/or Additional Information Documents (AIDs) for further details. iii) Stop taking income/regular withdrawals I/We would like to stop taking income/regular withdrawals from my/our bond with immediate effect or I/We would like to stop taking income/regular withdrawals from my/our bond with effect from (DD MM YYYY) Please note that if you are invested in an Income Distributing Fund and decide to stop taking income, you will need to switch the whole of your investment to one or more of our Growth funds. BANK/BUILDING SOCIETY DETAILS Only complete the section below if you are giving new withdrawal instructions or you wish to change your existing bank/building society details. Name(s) of account holder(s) Name of bank/building society Address of bank/building society Bank account number or holding account number (for building societies) Sort code Building Society roll number (if applicable) I/We confirm that I am/we are the person(s) who is/are legally entitled to deal with the bond(s) shown above and request payments as indicated. Signature(s) of bondholder(s) or trustee(s) Date (DD MM YYYY)

9 NOTES 1. Each policy is a legally separate entity and any income and withdrawals from each segment are treated as a return of capital. For example, income distributions or regular withdrawals exceeding 5% per annum of your total payment amount may give rise to a tax charge. Please see your Key Information Documents (KIDs) and Additional Information Document (AID) or contact your financial adviser for more information. 2. Where the bond has been issued under trust, any instructions to pay income distributions or regular withdrawals must be signed by all of the trustees. 3. Any payments made on request of the trustees must normally be paid by direct credit into the trustees bank or building society account. 4. We reserve the right to query any payment that appears to conflict with the terms of the trust, or where we are aware that a payment may be disputed. 5. Although switching between funds is currently free of charge, we may, in future, charge for any switches in excess of 12 in any year of your policy. Please return this form to: Scottish Widows, PO Box 28117, 15 Dalkeith Road, Edinburgh EH16 9AN.

10 Scottish Widows Limited. Registered in England and Wales No Registered office in the United Kingdom at 25 Gresham Street, London EC2V 7HN. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number /17

11 INVESTMENT PORTFOLIO BOND REQUEST FOR A ONE-OFF WITHDRAWAL Please read the notes below before you complete this form. DETAILS OF CUSTOMER(S) (please complete in CAPITAL LETTERS) First bondholder Full name(s) Address Date of birth (DD MM YYYY) Second bondholder Full name(s) Address Date of birth (DD MM YYYY) Bond policy number(s) WITHDRAWAL OPTIONS Important: The type of withdrawl you choose will affect any tax you may have to pay. Please see your Key Information Documents (KIDs) and/or Additional Information Documents (AIDs) or ask your usual contact for more information. Please show which type of withdrawal you would like by completing one of the boxes below. Please tick one box only. a) Please surrender the whole bond b) Please surrender policies numbered (please insert policy numbers) c) Please cancel sufficient policies to provide a payment of Under this option it may not be possible to match this figure exactly, therefore please specify if you would prefer a slightly higher or lower amount. Higher Lower d) Please provide a payment of by cancelling sufficient units equally across each policy e) Please provide a payment of by cancelling sufficient units equally across all policies from the fund Please note: If you want to withdraw a specific lump sum, we ll cash in enough whole plan segments to provide just under this amount. Then we ll partly cash in the remaining segments to give the exact amount you ve asked for. If you don t tell us clearly which option you d like to use, we ll always use this option for paying you a lump sum withdrawal.

12 RETURN DOCUMENTS To make sure that we can make your payments promptly, please return all the relevant documents with this form. If you have chosen option A, B or C you must return the following documents together with this form: Policy schedules Deed of Assignment (if applicable) see note 2 overleaf. If you have chosen options D or E, you only need to return this completed form. PAYMENT INSTRUCTIONS We usually make payments by direct credit into your bank or building society account. However, you may choose to receive payment by cheque see the notes below. Bank/Building Society details Name(s) of account holder(s) Name of bank/building society Address of bank/building society Bank account number or holding account number (for building societies) Sort Code Building society roll number (if applicable) Please make cheque payable to And post it to this address I/We confirm that I am/we are the person(s) who is/are legally entitled to deal with the bond(s) shown above and request payments as indicated. Signature(s) of bondholder(s) or trustee(s) Date (DD MM YYYY)

13 NOTES 1. WITHDRAWAL OPTIONS The minimum amount that you may withdraw is 500 and the minimum amount that needs to remain in your bond is 500. Any withdrawal must agree with the terms of your bond policy provisions. 2. RETURN OF DOCUMENTS If you are not the original owner of the bond, please send us any Deed(s) of Assignment that transferred ownership of the bond to you. If you have assigned your bond (eg in the case of a building society mortgage) please send us the Deed of Assignment. If the bond has subsequently been re-assigned to you, please send us evidence of this re-assignment. 3. BONDS HELD IN TRUST Where the bond is held in trust, any instructions to make a payment must be signed by all the trustees. We reserve the right to query any payment that appears to conflict with the terms of the trust, or where we are aware that a payment may be disputed. 4. PAYMENT INSTRUCTIONS We usually make payments by direct credit into your bank or building society account. Where the bond is held in trust, this will be the trustees bank or building society account. If you have chosen to receive your payment by cheque and the bond is held in trust, the cheque will be made payable to either: i) All the trustees by name ii) A bank or building society account held by all the trustees iii) One of the trustees by name (on the written instruction of all the trustees). iv) The person entitled to benefit under the trust (this may require completion of a supplementary declaration and indemnity). In all cases our cheque will be marked Not negotiable account payee only. One-off withdrawals from the bond are treated as a return of capital and special tax rules apply. For example, withdrawals exceeding 5% pa of your total investment amount may give rise to a tax charge. Please see your Key Information Documents (KIDs) and/or Additional Information Documents (AIDs) or contact your usual contact for more information. 5. JOINTLY OWNED BONDS If two investors own your bond jointly it is important that we protect the interests of you both. To do this we can only send payments in one of the following ways: i) To a bank or building society account in both your names. ii) To a bank or building society account of a solicitor acting for both of you. iii) By two payments (of 50% of the total amount each) to your own individual bank or building society accounts.

14 Please return this form, together with your original policy schedule(s) and all Documents of Title (eg a Deed of Assignment) if necessary to: Scottish Widows, PO Box 28117, 15 Dalkeith Road, Edinburgh EH16 9AN. Scottish Widows Limited. Registered in England and Wales No Registered office in the United Kingdom at 25 Gresham Street, London EC2V 7HN. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number /17

15 INVESTMENT PORTFOLIO BOND FUND SWITCH FORM DETAILS OF CUSTOMER(S) (please complete in CAPITAL LETTERS) First bondholder Full name(s) Address Date of birth (DD MM YYYY) Second bondholder Full name(s) Address Date of birth (DD MM YYYY) Bond policy number(s) Please complete either Section i, ii or iii SECTION i REQUEST FOR A FULL SWITCH OF ALL EXISTING FUNDS INTO DIFFERENT FUNDS WITHIN YOUR BOND Please switch all my/our current investment into the fund(s) indicated in the table below. Please enter whole percentages only; the totals must equal 100%. Full name of fund(s) Percentage to be invested in each fund (%) TOTAL 100%

16 SECTION ii REQUEST FOR A PARTIAL SWITCH FROM SPECIFIC FUND(S) WITHIN YOUR BOND Please indicate the fund(s) and percentage(s) that you want to fully or partially switch out of. Please enter whole percentages only. Full name of fund(s) Percentage of the existing fund to be switched out (%) TOTAL Please indicate the fund(s) you want to invest the proceeds into. Please enter whole percentages only, the total must equal 100% of the proceeds switched out. Full name of fund(s) Percentage of the proceeds to be switched in (%) TOTAL 100% SECTION iii SPECIFIC SWITCH REQUEST If your request is not covered by sections i or ii, please write your specific instructions in the box below. Please enter whole percentages only. If the switch of funds is to take place at a date later than when we receive your request, as detailed in note 3 overleaf, please enter the switch date. Swtich Date (DD MM YYYY) I/We confirm that I am/we are the person(s) which is/are legally entitled to deal with the bond(s) shown above. Signature(s) of bondholder(s) or trustee(s) Date (DD MM YYYY)

17 NOTES 1. Although switching between funds is currently free of charge, we may, in the future, charge for any switches in excess of 12 in any year of your policy. 2. Where you have a number of identical policies, these instructions will be applied equally to them all, unless you tell us differently. 3. The price used to sell and buy units when you switch funds depends on when we receive your written request. If we receive your request before 5.00pm on a working day, we ll use the price fixed at 12 noon the next working day UNLESS you let us know a later date. If we receive your request after 5.00pm, we ll treat it as if we d received it the next working day so we ll use the price fixed at 12 noon on the second working day after we received your request UNLESS you let us know a later date. If this form is not completed to our satisfaction and we need to seek clarity or additional information, the price will be fixed at 12 noon on the second day following receipt of the missing/unclear information. 4. The minimum amount that must remain in a fund after a switch is If you invest in one of our Income Distributing Funds, then the whole of your investment must be in that fund only. 6. We may, in exceptional circumstances, delay the cancellation and reallocation of any investment for up to one month. If units are invested in a property fund, or any fund that invests partly in property, this delay may be for up to six months. This is because these assets can be more difficult to sell than stocks and shares. Property valuation is a matter of judgement by a valuer. Please return this form to: Scottish Widows, PO Box 28117, 15 Dalkeith Road, Edinburgh EH16 9AN.

18 Scottish Widows Limited. Registered in England and Wales No Registered office in the United Kingdom at 25 Gresham Street, London EC2V 7HN. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number /17

19 INVESTMENT PORTFOLIO BOND CHANGE OF ADDRESS FORM DETAILS OF CUSTOMER(S) (please complete in CAPITAL LETTERS) First bondholder Full name(s) Date of birth (DD MM YYYY) Second bondholder Full name(s) Date of birth (DD MM YYYY) Bond policy number(s) Please note that my/our permanent address for correspondence will be changing as follows: Date changing (DD MM YYYY) Current address New address Signature(s) Date (DD MM YYYY) PLEASE RETURN THIS FORM TO: Scottish Widows, PO Box 28117, 15 Dalkeith Road, Edinburgh EH16 9AN.

20 Scottish Widows Limited. Registered in England and Wales No Registered office in the United Kingdom at 25 Gresham Street, London EC2V 7HN. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number /17

21 DIRECT DEBIT INSTRUCTION Instruction to your bank or building society to pay by Direct Debit Please write and/or check you Bank/Building Society details in the boxes provided below. A Direct Debit Instruction will be created to take payments from your account. Account Name Account Number Originator s Identification Number Please pay Clerical Medical Direct Debits from the account detailed on this instruction subject to the safeguards assured by the Direct Debit Guarantee. I understand that the instruction may remain with Clerical Medical and, if so, details will be passed electronically to my bank/building society. Signature(s) Sort Code Date (DD MM YYYY) Branch Name Signature(s) Date (DD MM YYYY) THE DIRECT DEBIT GUARANTEE This Guarantee is offered by all banks and building societies that accept instructions to pay Direct Debits. If there are any changes to the amount, date or frequency of your Direct Debit Scottish Widows Limited will notify you 14 working days in advance of your account being debited or as otherwise agreed. If you request Scottish Widows Limited to collect a payment, confirmation of the amount and date will be given to you at the time of the request. If an error is made in the payment of your Direct Debit, by Scottish Widows Limited or your bank or building society, you are entitled to a full and immediate refund of the amount paid from your bank or building society. If you receive a refund you are not entitled to, you must pay it back when Scottish Widows Limited asks you to. You can cancel a Direct Debit at any time by simply contacting your bank or building society. Written confirmation may be required. Please also notify us. 1. This Direct Debit is solely for the purpose of this plan. 2. Banks and Building Societies may not accept Direct Debit Instructions for some types of account. 3. For joint or individual accounts, you must be the only person required to authorise debits from the account. 4. The Bank/Building Society Account holder and Applicant must be the same person (if a joint account is to be used the applicant must be one of those named as an account holder. 5. If your plan starts less than 14 days before the chosen payment date on your application the first two monthly payments will be collected from your initial payment. Subsequent payments will then be the agreed monthly amount.

22 Scottish Widows Limited. Registered in England and Wales No Registered office in the United Kingdom at 25 Gresham Street, London EC2V 7HN. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number /17

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24 Scottish Widows Limited. Registered in England and Wales No Registered office in the United Kingdom at 25 Gresham Street, London EC2V 7HN. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number /17