What are the fees and charges associated with life and pensions products?

Friends Provident Life and Pensions, like many other financial services providers, typically has a variety of fees and charges associated with their life and pensions products. These fees can vary depending on the specific product chosen and the terms of the contract. Common types of fees that may be encountered include policy administration fees, investment management charges, and surrender charges. Policy administration fees are often charged to cover the costs of managing the policy. These can either be a flat fee or a percentage of the policy value. Investment management charges are related to the costs incurred in managing the investments that your premiums are directed towards. These fees are generally expressed as a percentage of the assets under management. Surrender charges may apply if the policyholder decides to terminate the policy early, and these charges can decrease over time. It is also essential to be aware of any additional fees that may apply, such as those for additional services like financial advice or policy changes. To fully understand the specific fees and charges tied to a particular life or pension product offered by Friends Provident, it is advisable to refer to the product documentation or to the official website, which usually provides detailed information on all associated costs.