Friendly Society tax free life policies

johnlondon_2

My friendly society life assurance policy/bond of 10 years standing is coming to an end. I think you can invest /pay premiums of up to £270 a year, and theoretically get tax free gains.

Which are the best qualifying friendly society products on offer now? Should Martin do an article on this topic?

dunstonh

Which are the best qualifying friendly society products on offer now?

None of them. They are all rubbish.

Should Martin do an article on this topic?

No.

1- they are regulated financial services and Martin is not authorised to give regulated financial advice. The regulars on the board would slate him for "recommending" such an awful product. There is form here as well as he used to recommend the awful post office structured product. The regulars on the board slated that frequently and the article was pulled. The FSA is now investigating structured products and the advice given on them and they still mostly remain poor quality (a few good ones earlier in the year though)
2 - the product is obsolete by about 15 years compared to alternatives
3 - the tax free status is a gimmick and for most people there is no tax difference to a normal unit trust.
4 - they are damned expensive

Your thread was probably more suitable for the ISAs and tax free savings board. A board guide may move it there so if it goes missing, you know where to look.