Frequently asked questions
If you’ve got a question which isn’t answered
here, please contact us.
You can find out more on the product
information and key
features pages.
What
is the Children's Bond?
What is the
plan term?
Who can pay into the plan, and who
controls it?
How long will it take to complete the
application?
What information do I need to hand
to complete the application?
What do I need to decide before
completing the application?
What life insurance is
provided?
After I have applied - who do I contact
for updates?
What
is the Children's Bond?
The PMAS Children's Bond is a tax-exempt
saving scheme.
What
is the plan term?
The plan runs for ten years or to the plan
anniversary after the child's sixteenth birthday, whichever is the
greater.
Instead of cashing it in at the end of the
payment term the lump sum can be left with the Society where it
will grow in line with average monthly bank rates.
Who
can pay into the plan, and who controls it?
Anyone can make the payments on the child's
behalf. However, the parent named on the application form has
control over the plan until the child reaches 16, regardless of who
is paying.
A Children's Bond is the property of the child
at all times. Once the child reaches sixteen they will have control
of the plan and all correspondence will be addressed to them.
How
long will it take to complete the application?
If you’ve read through all the supporting
literature before you begin to complete your application, and have
necessary information to hand, the application should take no more
than 10 minutes.
What
do I need to decide before completing the
application?
You’ll just need to decide the amount you wish
to save, £12.50 or £25 per month.
What
information do I need to hand to complete the
application?
Make sure you’ve first read the product information and
key features pages on this
site. You’ll need your bank details and details of your child’s
medical history to hand.
What
life insurance is provided?
The Children's Bond includes built-in life
cover. Should the child die before the plan is cashed in we will
pay the guaranteed minimum payout, plus all bonuses added to
date.
After I have applied - who do I contact for
updates?
We will treat your application as a priority.
If you have any questions about the processing of your application,
please contact us on
0845 88 22 999.