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Capital Investment Bond changes

What changes have been made?

NFU Mutual has made the decision to close our Capital Investment Bond to further additional investments from 1st May 2017. We have issued a Policy Endorsement that alters affected customer’s relevant Policy Document conditions to reflect this change. All other details remain the same, meaning that invested customers can still withdraw money, and switch funds if they wish to do so. There have been changes to the charging of switches, which are noted below.

How do these affect me?

Investors in the Capital Investment Bond will no longer be able to invest further funds into their bond, although investors can still withdraw money and have the ability to switch money between funds. If you are not currently invested in this product then this change does not affect you.

What is the reasoning behind this change?

The Capital Investment Bond has been closed to new business since 2002 and at that time, we introduced a new product called Flexibond.  At the end of 2016, our product portfolio was reviewed and the decision made to close the Capital Investment Bond to additional investments as well.

What changes have been made to switching?

You are still entitled to 12 free switches in a policy year, after that we retain the right to charge for further switches. Previously this charge was set at £100, but this has also been reviewed and lowered to £20. This figure will be reviewed every three years and may be raised in line with inflation (CPI). At present we are still not charging for additional switches.

What options are open to me?

If you are invested in the Capital Investment Bond, this change does not affect your current investment; this continues to be invested in your selected funds.You can still change the funds you are invested in by completing a fund switch.You also still have the ability to access you investment and withdraw money if required. If you have further money to invest and this decision affects your plans then you can call us on 0800 622 323 and then option 3 or contact your local NFU Mutual Financial Adviser.

Additional investments will only be accepted up to 30th April 2017 for investment before 1st May 2017.