WITH- PROFITS BOND€¦ · Scottish Widows plc acts as the processing and paying agent for Scottish Widows Annuities Limited and Scottish Widows’ Fund and Life Assurance Society

W I T H - P R O F I T S B O N D

15972 C NOV 00 29/11/00 11:59 am Page 1

YOUR INDEPENDENT FINANCIAL ADVISER CAN GIVE YOU CLEAR,INDEPENDENT ADVICE AS TO WHETHER THIS PRODUCT MEETS YOUR

INVESTMENT AIMS AND FINANCIAL REQUIREMENTS.

W I T H - P R O F I T S B O N D

Already looking very good

for your money

Share in the success of the Scottish Widows

With-Profits Fund

Outstanding Past Performance

�

Less risk than equity investment

�

An attractive alternativeto a bank or building

society account

Scottish Widows plc, Company No 199549. Registered Office in the United Kingdom at 69 Morrison Street, Edinburgh, EH3 8YF. Telephone: 0131 655 6000. Regulated by the Personal Investment Authority for investment business.

Scottish Widows plc is a member of the Scottish Widows and Lloyds TSB Marketing Group, members of which are regulated by the Personal Investment Authority and/or IMRO, for the purposes of life assurance, pensions and investment business.

Scottish Widows plc acts as the processing and paying agent for Scottish Widows Annuities Limited and Scottish Widows’ Fund and Life Assurance Society.15972 11/00

15972 C NOV 00 29/11/00 11:59 am Page 2

How much better off could you be investing inour success

The Scottish Widows With-Profits Bond is a lump sum investment with an excellent past

performance.

If you have £5,000 or more to invest, you will be pleased to discover that this Scottish

Widows Bond, although only a few years old, has already achieved an excellent rate of

return. Just look at the actual results in the table below, to see a very attractive 9.8% p.a.*

had you invested £10,000 since launch. Plus, this powerful performance comes with the

reassurance of investing in a With-Profits contract from a company known for its

financial strength. The Bond also guarantees to pay out 101% of the value of your units

on early death.

With this selection of high powered benefits, your Scottish Widows With-Profits Bond

could be looking very good for your money over the medium to long-term.

[Performance Table]

PERFORMANCE*Actual results since launch on 1.11.95 to 1.7.00

Amount invested Total Value Annual equivalent(1.11.95) @ (1.7.00) growth rate

£10,000 £15,481 9.8% p.a.

£30,000 £46,896 10% p.a.

£100,000 £157,074 10.2% p.a.

*Source: Scottish Widows. Past performance figures relate to the same contract and fund but the contract

terms may have varied.

Figures include an addition for terminal bonus and a deduction for an early exit charge. Future surrender values

are not guaranteed.

Past performance is not necessarily a guide to the future.

15972 MASTER T NOV 00 30/11/00 9:57 am Page 1

A B E T T E R P E R F O R M A N C E T H A N A

B U I L D I N G S O C I E T Y A C C O U N T

The Scottish Widows With-Profits Bond has shown a better performance than a typical

building society or a bank account.

Look at the table below and ask yourself, can you really afford to do without

our performance?

T A K E A C A S H W I T H D R A W A L

W H E N E V E R Y O U W A N T

The bond is normally divided into 20 separate policies, giving you a choice of how to

take your money. You can cash in your whole Bond if you want at any time. You can

also cash in part of it provided you take at least £500 and leave at least £100 invested

in each policy. However please see the Key Features for details of the early surrender

charges which apply in the first five years and the Market Level Adjustment which may

apply in certain circumstances.

HOW THE WITH-PROFITS BOND HAS PERFORMED.

Annualised Growth Rates from 1.11.95 to 1.7.00. Source:

Standard & Poor’s

Micropal, UK

Savings £2,500+

investment net

1.11.95 to 1.7.00.

9.8%*Scottish Widows With-Profits Bond

2.5%(UK Saving £2,500+ investment net)

*Actual results since launch for £10,000 invested on 1.11.95 to 1.7.00. Figures include an addition for

terminal bonus and a deduction for an early exit charge.

Past performance is not necessarily a guide to the future. With a building society deposit account your

capital is secure.


T A K E R E G U L A R W I T H D R A W A L S I F Y O U W I S H

You can also take regular withdrawals from your bond. You have the flexibility of

choosing to take out regular income payments of up to 7.5% of your original investment

yearly, half yearly, quarterly or even monthly (for investments over £6,000 only), as long

as the minimum payment is £30. ‘Regular withdrawals’ refers to regular payments you

can receive by automatically cancelling units in your Bond. Please note that taking

withdrawals could result in capital erosion.

F R E E F R O M T H E B A S I C R A T E O F T A X

There is no personal liability to lower or basic income tax or capital gains tax on any

gains made within your Bond as tax will have been paid by Scottish Widows on the

underlying assets. If you are, or become, a higher rate taxpayer you may have an

additional liability on cashing in parts of policies, complete policies, on death or on

regular withdrawals of over 5% of the amount you invested.

There may also be tax implications for people entitled to age allowance.

Non-taxpayers and lower rate taxpayers are unable to reclaim any tax paid by

Scottish Widows.

T H E R E A S S U R A N C E O F B U I L T - I N L I F E C O V E R

The Bond guarantees a 101% pay-out of the value of your units in the event of early death

(or on the death of the second life assured to die in the case of a joint Bond).

The life assurance element alone is not the main reason why you would want to invest in

this Bond, but it would be useful, should the need arise.

W H Y C H O O S E A ‘ W I T H - P R O F I T S ’ I N V E S T M E N T ?

Our With-Profits Bond can give you peace of mind with a proven

way of investing.

Scottish Widows gives you the strength of a highly reputable, highly successful company

to provide long-term capital growth potential to your investment. The way the bonus

element of a With-Profits Bond works is this - your lump sum buys units in the Scottish

Widows With-Profits Fund. Regular bonuses are declared in the form of a daily increase


in the unit prices of the Fund. In addition, you may enjoy a terminal bonus when

your units are encashed. However a ‘Market Level Adjustment’ may be applied in

certain circumstances which would reduce the immediate cash-in value of your

Bond, see the section below for full details.

E X T R A R E W A R D S F O R H I G H E R A M O U N T S

Anyone can invest in the With-Profits Bond on a single or joint life basis provided they

are at least 3 years old next birthday and invest at least the minimum amount of

£5,000. The maximum age at outset for a single investor is 85 years old next birthday.

But, if you would like your Bond written on a joint life basis (with your spouse or

partner) then the upper age limit is higher: the younger of the two lives can be up to

89 years old next birthday and the older can be up to 99 years old next birthday.

The more you invest, the more the Scottish Widows With-Profits Bond will reward

you by offering you better terms.

For instance, if you invest £10,000 or more, you will enjoy an extra 1% to your

allocation rate. So £10,100 will be used to buy units in the Fund. And as you can see

from the table below, you can gain up to an extra 3.5% of your investment.

M A R K E T L E V E L A D J U S T M E N T

A Market Level Adjustment is a fair way of protecting remaining investors from the

effects of people cashing in their bonds.

It is likely to be introduced if, (when you cash in some or all of your Bond) the face

value of your units together with any terminal bonus which applies when cashing

Age next birthday

Single life 3 to 75Joint life 3 to 79



£5,000 £10,000 £20,000 £75,000 +to £9,999 to £19,999 to £74,999

100% 101% 102.5% 103.5%

99% 100% 101.5% 102.5%

98% 99% 100.5% 101.5%

AMOUNT INVESTED

For joint life cases, the age bands referred to in the table apply to the younger life.


them in exceeds the value of underlying investments in the Fund. It reduces the value of

units which are being cashed in. However, in certain circumstances, the market level

adjustment will not apply, for example, ten years after the start of your Bond or at ten year

intervals thereafter, on regular withdrawals or on death. Please see the Key Features

section ‘What will the units be worth?’

W H A T A R E T H E C H A R G E S ?

There is a difference of approximately 5% between the prices at which the units are

bought and sold.

In addition, if you decide to cash-in all or part of your Bond within the first five years a

deduction will apply. This will be 5% of the value of cashed-in units if you cash-in

immediately after those units were bought, reducing on a daily basis to 0% if you cash in

after 5 years.

For example, at the first anniversary the deduction is 4%, at the second, 3%, at the third,

2%, and at the fourth 1%, leaving 0% charge after 5 years.

This deduction will not apply to any regular withdrawals of up to 7.5% per year of your

original investment, or in the event of death.

There are no specific annual charges. However, costs not covered by the above charges

are reflected in the bonus rates declared.

A N A M E Y O U C A N T R U S T F O R A B E T T E R

P E R F O R M A N C E

This bond is ideally a medium to long-term investment. Scottish Widows’ investment

strategy for its With-Profits Fund is to invest in a balanced mix of equity shares of good

quality companies, both at home and overseas, in high-quality properties and in fixed

interest securities. The aim is to secure a competitive investment return consistent with

the level of guaranteed benefits provided.

Scottish Widows has been looking after the financial well being of people from all walks

of life for more than 180 years. With the help of the combined organisation of Scottish

Widows and Lloyds TSB, planning for a secure and successful future couldn’t be easier.

So the future looks bright. Our Standard & Poor’s rating is ‘Very Strong’ for 2000.

In a recent Money Management survey the Scottish Widows With-Profits Bond had the

highest surrender value over four years as shown in the table overleaf.


T O C A T C H T H I S P O W E R F U L

P E R F O R M A N C E , A C T N O W

Give your lump sum a boost – right now.

How often do you discover an opportunity with less risk than equities and a

proven past performance, along with higher rewards for extra saving, added life cover

and access to your money? Needless to say, the Scottish Widows With-Profits Bond

can provide all this as one of the most popular With-Profit Bonds in the UK! So join

in the success and avoid getting left behind. Speak to your Financial Adviser about how

your financial fortunes could take off along with the Scottish Widows With-Profits

Bond’s performance.

IMPORTANT NOTESPlease note that past performance is not necessarily a guide to the future.

This booklet represents Scottish Widows’ interpretation of the law and Inland Revenue practice as at date of publication.The contract terms and the amount and taxation of benefits described in this booklet assume there is no change in taxor other laws affecting Scottish Widows or its investments.

Our charges, limits and terms which apply may change from time to time.

This contract should not be undertaken as a short-term investment. The bulk of expenses are incurred and recoupedearly in the contract and thus surrender values in the early years may be less than amounts paid in. Under certaincircumstances the benefits payable under the Bond may be adjusted to reflect the value of the underlying investmentswhich may fall as well as rise. When you cash in your Bond, you may not get back the amount you originally invested.Future bonus rates are not guaranteed.

Further details of the benefits and conditions of the Bond are given in the With-Profits Bond Policy Provisions bookletwhich is available on request.

Please note that when a policy is taken out the contract is between the applicant(s) and Scottish Widows. The terms ofthe Contracts (Rights of Third Parties) Act 1999 and any other legal third party rights are specifically excluded. Thismeans that only the parties to the contract (or their legal successor(s), assignee(s) or other security holders) may havecontractual rights.

Single Premium £10,000 invested for the last: 1 yr (£) 2 yrs(£) 3 yrs (£) 4 yrs (£)

Scottish Widows 10,181 11,673 13,152 14,508Clerical Medical 9,938 11,015 12,535 14,093Friends Provident 9,898 10,615 11,309 12,167Legal & General 10,000 10,862 11,420 12,419Norwich Union (Bicent) 9,969 11,508 12,960 14,332Prudential 10,069 11,063 12,251 13,804Royal Sun Alliance 10,220 11,606 13,370 N/AScottish Mutual 10,134 11,216 13,049 14,065Sun Life N/A N/A 12,089 13,289

Source: Money Management, January 2000, actual cash values as at 1 December 1999 for a £10,000 With-Profits Bondtaken out by a male aged 50. Figures include an addition for terminal bonus and a deduction for an early exit charge. Pastperformance is not necessarily a guide to the future. Future surrender values are not guaranteed.


Key Features

This is a brief guide to the key featuresof this Bond. You should read this documenttogether with the product information beforeyou sign the application form. Further detailsare available on request.

I T S A I M S

� To provide capital growth over the mediumto long-term.

� To allow you to withdraw part or all of yourinvestment when you want.

� To enable you to make regular withdrawalsin a tax-efficient way.

� To guarantee minimum cash-in terms in ten years’ time (and at ten-year intervalsthereafter) or if you make regularwithdrawals.

� To pay a cash sum if you die early (on thedeath of the second life assured to die if theBond is taken out on two lives).

Y O U R C O M M I T M E N T

� To invest a cash sum.

R I S K F A C T O R S

� What you get back will depend on theinvestment performance we achieve and thebonuses we add to your Bond. It could belower than you hoped for.

� If you cash in your investment in the earlyyears, you are unlikely to get back as much asyou invested.

� Your circumstances may change, and youmay need to cash in your Bond when

the guarantees do not apply. In suchcircumstances you could get back less thanyou invested.

� Our deductions may turn out to be higherthan expected.

W H A T I S T H E

W I T H - P R O F I T S B O N D ?

� It offers you a way to invest a lump sum forthe medium to long-term. You can keepyour Bond for as long as you like. You cancash in all or part of it at any time.

� Your money is invested in units in our With-Profits Fund. The investments of this fundare mainly stocks, shares and property. Thevalue of units is not directly linked to thevalue of these underlying investments, but isdetermined by bonuses which we declare.Future bonus rates are, however, notguaranteed.

� We increase the face value of units each dayby regular bonuses.

W H O C A N I N V E S T ?

� Anyone can invest in the With-Profits Bondon a single or joint life basis provided they areat least 3 years old next birthday and invest atleast the minimum amount of £5,000. Themaximum age at outset for a single investor is 85 years old next birthday. But if you would like your Bondwritten on a joint life basis (with your spouseor partner) then the upper age limit is higher:the younger of the two lives can then be upto 89 years old next birthday and the oldercan be up to 99 years old next birthday.

K E Y F E A T U R E S


W H A T W I L L T H E U N I T S

B E W O R T H ?

� Ten years after the start of the Bond, and at ten-year intervals thereafter, there will be a guarantee date. If you cash in some or all of your units at a guarantee date thefollowing apply:-

You will be certain to get back at least theface value of your units (including theregular bonuses which we have added)regardless of prevailing investmentconditions.

If justified by the performance of our With-Profits Fund, we will add a ‘terminal’bonus to increase still further the value ofthe units you are cashing in. This will reflectthe value of the underlying investments ofthe fund. However, the effects of short-termfluctuations in market values will be partlysmoothed out.

� You can arrange to take regular withdrawalsof up to 7.5% a year of your originalinvestment. You will be certain to get backthe full face value of the units which youcash in to provide these withdrawalsregardless of investment conditions.

� If you cash in units in other circumstances,you may get back less than their full facevalue and any attaching bonus.

We may reduce the value of the units bymaking a ‘market level adjustment’. We arelikely to introduce such an adjustment if theface value of the units, together with anyterminal bonus which would apply oncashing them in, is larger than the value ofthe corresponding underlying investments.It is part of our prudent and fair approach tomanaging your money.

If you are cashing them in within the firstfive years of your Bond, we will reduce theirvalue. Please see the section on ‘Charges’.

H O W M U C H M I G H T

I G E T B A C K ?

� What we pay out when you cash in your

Bond will depend on a number of factors

such as the amounts paid in and

withdrawn, how long your investment has

had to grow and the investment returns we

achieve. The following tables show returns

at 10 years and 20 years on an investment of

£10,000 made by someone below age 75

and assume no withdrawals are made.

The figures above are only examples and

are not guaranteed. They are not minimum

and maximum amounts. What you will get

back depends on how your investment grows.

You could get back more or less than this.

All insurance companies use the same rates of

growth for illustrations but their charges vary.

Do not forget that inflation would reduce

what you could buy in the future with the

amounts shown.

Investment amount £10,000

Allocation % 101%

10 YEARS

Growth Rate Cash Sum

4% p.a. £13,000

6% p.a. £15,700

8% p.a. £19,000

20 YEARS

Growth Rate Cash Sum

4% p.a. £17,700

6% p.a. £25,900

8% p.a. £37,700


Key Features

W H A T A R E T H E D E D U C T I O N S

F O R ?

� The deductions include the cost of

expenses, charges, and any surrender

penalties and other adjustments (and

commission if applicable).

� The table shows that, for example, over the

first 10 years of the Bond the effect of the

total deductions could amount to £2,120.

� Putting it another way, this would have

the same effect as bringing the investment

growth used down, from 6% a year to 4.7% a

year over the first 10 years.

NOTES

(1) Figures shown are for illustration only and

do not constitute an offer.

(2) Further information is contained in the

enclosed leaflets and Policy Provisions which

are available on request.

W H A T T A X W I L L I P AY ?

� All proceeds from your Bond are free from

personal liability to lower or basic rate

Income Tax and personal liability to Capital

Gains Tax.

� If you are, or are close to being, a higher-rate

taxpayer you may be liable to marginal rate

income tax when you cash in some or all of

your Bond or on death. Marginal rate tax is

the difference between higher and basic rate

tax. If you are over 65 your entitlement to

age allowance could also be affected.

� You can generally take out a limited amount

THE EARLY YEARS

The last three columns of the following tables assume that we achieve an investment return of 6% a

year, and are based on an investment of £10,000 and assume no withdrawals have been made. The

amount you receive when you cash in is not guaranteed.

Warning : If you cash in during the early years you could get back less than you have paid in.

At end Total paid Total actual Effect of What you of year in to date deductions to date deductions to date might get back

1 £10,000 £898 £898 £9,7002 £10,000 £870 £924 £10,3003 £10,000 £853 £962 £10,9004 £10,000 £846 £1,010 £11,6005 £10,000 £848 £1,070 £12,300

THE LATER YEARS

10 £10,000 £1,450 £2,120 £15,70015 £10,000 £2,240 £3,720 £20,20020 £10,000 £3,250 £6,110 £25,900


each year (currently 5% of your original

investment) without having to pay tax at the

time (subject to a maximum total of 100%),

although these amounts will be included in

the tax calculation at the end of your Bond.

The Inland Revenue sets the limit. If you go

over the limit or encash your Bond we will

send you a statement (chargeable event

certificate) giving you enough information

to complete your self assessment return.

� The fund your money is invested in is

subject to tax which we pay.

� Tax rules can change.

W H Y I S M Y B O N D D I V I D E D

I N T O I N D I V I D U A L P O L I C I E S ?

� Your Bond consists of a number (normally

20) of individuals policies. You can ask us to

cash in one or more complete policies while

leaving the others intact. Alternatively, you

can take an equal amount from each of your

policies.

� This is to give you a choice of how to take

your money from your Bond and so to

maximise its tax-efficiency.

W H A T H A P P E N S I F I D I E ?

� A cash sum will be paid on death (the death

of the second life assured to die if the Bond

is based on the lives of two people) while

your Bond is in force.

� The amount of the cash sum will be 101%

of the value of your Bond at the time.

For this purpose the units which make up

the Bond will be valued in the way which

applies at a guarantee date, including any

terminal bonus.

� For tax purposes your Bond will be treated

as though you had cashed it in on the day

immediately before the date of death.

W H A T W I L L B E P A I D T O M Y

F I N A N C I A L A D V I S E R I N

R E S P E C T O F T H I S P U R C H A S E ?

� For arranging this Bond, we will pay

commission to your Financial Adviser.

The amount will depend on the size

of your investment. For example, for an

investment of £10,000, the commission

would be £700.00 payable immediately. The

commission will be paid for out of the

deductions. You will be given details of

commission separately when your contract

with us is concluded. Alternatively, if you

wish to be given these details earlier, please

contact us or your Financial Adviser.

W I L L Y O U T E L L M E H O W M Y

B O N D I S G E T T I N G O N ?

� You will receive a statement from us each

year showing how your Bond is progressing.

F U R T H E R I N F O R M A T I O N

Cancellation rights

After your application is accepted you will

receive a notice of your right to cancel. You will


Key Features

then have 14 days in which you can change your

mind. This is in line with the Financial Services

(Cancellation) Rules 1994.

Cashing in

If you want to cash in your Bond, please write

to us.

Charges

A percentage of your cash sum is used

(‘allocated’) to buy units – please see the

‘Amount Invested’ table in the brochure.

Two unit prices are normally calculated each

working day; a bid price and an offer price. The

bid price is approximately 5% lower than the

offer price. You buy units at the offer price

ruling when we receive your application. You

normally cash in units at the bid price ruling on

the day after we receive your instructions. If you

cash in all or part of your Bond within the first

five years, we will reduce the value of the units

(after any market-level adjustment) by applying

a percentage deduction. This will be 5% of the

value of the units if you cash in immediately,

reducing on a daily basis to 0% if you cash in

after five years.

The following table gives examples.

There are no specific annual charges. Costs not

covered by the above charges are reflected in

the bonus rate declared.

Law

For legal purposes the law of England and

Wales, Scotland or Northern Ireland will apply,

normally according to where you reside when

you take out your Bond.

AFTER DEDUCTION

1 year 4%

2 year 3%

3 year 2%

4 year 1%

5 year 0%


Queries, complaints and compensation

For further information or if you wish to

complain about any aspect of the service you

have received, please contact Scottish Widows

at 15 Dalkeith Road, Edinburgh EH16 5BU. If

we do not deal with your complaint to your

satisfaction you can then complain to the

Financial Ombudsman Bureau, South Quay

Plaza, 183 Marsh Wall, London, E14 9SR.

(Tel: 020 7964 1000). Making a complaint will

not prejudice your right to raise legal

proceedings. Information on compensation

arrangements is available on request or

alternatively contact The Financial Services

Authority and the Investors Compensation

Scheme for more information.

This booklet represents Scottish Widows’

understanding of current legislation and Inland

Revenue practice as at date of publication. The

contract terms and the amount and taxation of

benefits described in this booklet assume that

there is no change in tax or other laws affecting

Scottish Widows or its investments.

Please note that we might have to close the

Bond itself if demand is particularly high.

For your protection, calls may be recorded or

monitored.


In are h h up W ofi Bond.r n your viser or ws, eith urgh EH16 5BU.

ca or es w appropr necessary,y, y ue your answers on a separate of paper.

Title (Mr/Mrs/Miss/Ms/Other) Full Forename(s) Surname

Address

Postcode

Evening TelTel T No. including STD

Mar Single Married Divorced Widowed Separated

Da of th Please note: Single invnvn estors must be between the ages of 3 and 85 next birthdayaya .y.y

Title (Mr/Mrs/Miss/Ms/Other) Full Forename(s) Surname

Address

Postcode

Evening

Marital Status Single Married Divorced Widowed Separated

Date of Birth note: y vv ust be een the ages of 3 and 89 next birthdayay aand the older 3 bir yy.y.y

Amount of Investment (Minimum £5,000) Please make your cheque payable to “Scottish Widows”.

to t r r wwals now. YY can start als at any time in the future.a) Fr y of Pa tick ia box) YearlYearlY y y Quarterly MonthlyTotalTotal T investment must be at least £6,000 for monthly payments.b) Amount of each payment (minimum £30)

TotalTotal T regular withdrawa als in any year are limited to 7.5% of your initial investment.Each payment will be funded by cancelling units under each of the identical policies held within the Bond.c) Date of first payment (at least 10 ys’ must be given)

d) payments must made direct to a bank or building society in the United Kingdom.

Name and address of the bank/building society to which payments are to be made

of Account

Branch t Code (from r hand corner of your cheque) – –

Bank or

Data Protection Act: Customer information may be shared amongst Scottish Widows and Lloyds TSB group companies, their agents, subsidiaries and contractors for the purposes of providing the service for which you applied, and for updating and enhancing their records. Scottish Widows may contact you about our services which we believe may be of interest to you. If you would prefer not to receive this information please write to us at Scottish Widows, FREEPOST EHZ920, 16 Bernard Street, Edinburgh, EH6 0BR or alternatively mark this box . Other Lloyds TSB group companies will not make marketing

held by us on computer on payment of a fee. Warning: sending your personal data by e mail is not secure; it can be intercepted, including by persons outside theWidows as a means of contacting you.

Signature(s) of APPLICANT(S) Date

Date

6 Money Laundering Notes

5 Data Protection

£

4 Regular W aw

£

3 Investment Details

2 Joint Investor (Personal Details) (We cannot process your application without your full name and other details)

Da TT No. including STD

1 Investor We cannot process your application without your full name and other details)

Application for With-PrWith-PrW ofits BondOffiffif ce Use Only

7 Contracts (Rights of Third Parties) Act 1999Please note that when a policy is taken out the contract is between the applicant(s) and Scottish Widows. The terms of the Contracts (Rights of Third Parties) Act1999 and any other legal third party rights are specifically excluded. This means that only the parties to the contract (or their legal successor(s), assignee(s) orother security holders) may have contractual rights.

account in the name of the person making this application. In the case of building society cheques you should ask your building society to add your name andaddress to the back, together with their company stamp and signature to confirm that monies are drawn from your personal account with them.

I/We understand that to the best of my/our knowledge and belief the above information is true and complete. The details supplied may be held andmade available to the employees and agents of Scottish Widows who are managing my/our affairs. I/We agree that this application will form the basisof the contract(s) between me/us and the Scottish Widows plc. I/We understand that Scottish Widows may return my/our application and cheque tome/us if they are received after this Bond has closed.Where Section 4 has been completed the instructions given shall operate as my/our receipt and discharge to Scottish Widows in respect of any paymentmade under it, as soon as such payment shall be made to the person or the bank/building society account specified.

8 Declaration

Da TelTel T No. including STD

Campaign No: 2302Agency No:A142253Asset Financial Management

15342 2302 NOV 00 28/11/00 2:30 pm Page 1

Applying is easier than ever!Just follow this application check list:

• Include your full name and permanent residentialaddress

• Tell us the amount you want to invest

• Enclose your payment

• Cheques should be made payable to Scottish Widows

• Building society cheques should have the investor’sname printed on the cheque by the building society

• Read, sign and date the Declaration and return to yourFinancial Adviser OR to us at:

Scottish Widows, 15 Dalkeith Road, Edinburgh EH16 5BU.

Scottish Widows plc, Company No 199549. Registered Office in the United Kingdom at 69 Morrison Street, Edinburgh, EH3 8YF.Telephone: 0131 655 6000.

Regulated by the Personal Investment Authority for investment business.Scottish Widows plc is a member of the Scottish Widows and Lloyds TSB Marketing Group, members of which are regulated

by the Personal Investment Authority and/or IMRO, for the purposes of life assurance, pensions and investment business.Scottish Widows plc acts as the processing and paying agent for Scottish Widows Annuities Limited and Scottish Widows’ Fund and Life Assurance Society.

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Documents

WITH- PROFITS BOND€¦ · Scottish Widows plc acts as the processing and paying agent for Scottish Widows Annuities Limited and Scottish Widows’ Fund and Life Assurance Society