I would like information on my existing investment policy

A new feature of the website is a full list of unit prices for the different investment portfolios.  These are updated weekly, normally on a Wednesday, and you can use them to track your fund.  Unit Prices can be found under the News and Results section of the website.

Investment clients receive a copy of our quarterly Focus newsletter.  It gives an update on our investment performance, the state of the market and make-up of our managed funds at the end of the previous quarter.  You will also receive an Annual Statement each year, around September.  If you have not been receiving this information from us, it may be because we do not have your correct contact details. 

Bond and Power Saver/Super policyholders receives a statement each quarter.

Returns on all of our investment funds are declared annually around September.  You will receive an Annual Statement in the post in October advising you of your current values and your estimated maturity value.

To find out a present cash value for your policy, please contact our Client Services department on 0800 88 22 88.

There are two main reasons that this could occur.  Firstly, negative investment returns over the last few years have resulted in reductions in cash values on certain plans.  Investment markets are volatile and whilst they fluctuate from year to year they do level out over the long term with positive returns in most instances.  There has recently been an upturn in investment markets and the majority of portfolios are again showing very positive returns.  If you have a Fidelity Life Gold Medal or Super-Super plan you also have the added security of our underlying minimum rate of return at maturity unless your only investment was a lump sum.

Secondly, most of the charges that apply are capitalised up-front and come out of your plan in the first few years that it is in force.  Because many of our plans are designed for the long-term, the impact is spread out. These charges include policy set-up fees and your adviser's commission.  Ongoing charges tend to be low so once the initial charges are paid your cash value will begin to build in-line with the quotation that you will have received with your original policy document.

All Fidelity Life savings plans are designed for medium to long-term savings goals and in particular the cost structure reflects this.  Keeping your investment for the full term of the plan will mean that you will maximise the benefits of investing for your future.

If you cancel your policy before your selected maturity date you will receive only the current cash value of the plan at that point in time.  This could be low or even nil if the plan if the plan has only been in force for a short period of time. 

You will be charged an early termination fee of 5% of the total cash value of your Gold Medal or Super-Super policy if you cancel five years or more prior to your selected maturity date.  This fee reduces by 1% every year after that until maturity when no fee is charged.  There is no early termination fee on Life Bonds or Power Saver plans.

To offset the risk of bad returns over the long term, Fidelity Life Gold Medal and Super-Super plans have an underlying minimum rate of return if you keep your plan in force until maturity.  This rate depends on the portfolio selected.  The minimum rate of return is forfeited if the plan is cancelled before the selected maturity date.  By keeping your plan you will also benefit from our tax-free loyalty bonus, which is paid on top of the declared rate of return on plans that have been in force for six years or more.

If you wish to access funds in your savings plan early, you are able to take a partial withdrawal rather than cashing in (surrendering) your policy.  By taking this option, if you have any life and disability cover in the policy it will remain intact provided you continue to pay your premiums and you will still be able to enjoy the loyalty bonus and minimum rate of return at maturity on your remaining funds