Coventry Assurance

Now a part of the Healthy Investment family

If you’re a former member of Coventry Assurance, then you’ll know that your membership and your policies were transferred over to Healthy Investment in 2011.

This included funeral benefit, endowment savings plan members and members with Unison Unibond policies.

It means you’re now a full voting member of Healthy Investment and will receive an invitation to our Annual General Meeting – it’s your chance to vote on important issues, including the appointment of Directors.

Coventry Assurance Products

Unibond Tax Exempt Savings Plan

These 15 year savings plans have a Savings Fund Guarantee which is the minimum you are guaranteed to receive when the policy matures. It also includes a 10 year option to cash in the policy when you will receive a guaranteed payout equal to what you would have received had you taken out a 10 year savings plan.

Endowment Savings Plan

These traditional endowment savings plans include Tax Exempt and Standard Savings Plans. They have a guaranteed sum assured which is the minimum you will receive when the policy matures providing all of the contributions have been paid. You may also receive a bonus to increase the payout you receive when the policy matures.

Funeral Benefit Plan

These historic whole of life policies pay out £50 when the policyholder dies. All of the policies we hold no longer have to pay any premiums although your benefit is guaranteed regardless of age. If you think you have held a Coventry Assurance policy in the past please contact us to check if you are still entitled to a payout.

Ring Fenced Fund

Until August 2024 we kept all of the assets and policies in a separate Ring Fenced Fund, to ensure that our previous Coventry Assurance members were only exposed to the risks and investment returns of their fund.

We managed the investments in the Coventry Assurance Ring Fenced Fund to ensure that the guarantees that were made when you took out the policy are honoured and that, when possible, we have been able to add either regular bonuses or a final bonus when the policy matures.

Now that the majority of the policies that were transferred to us from Coventry Assurance have matured and been paid out to members, we’re closing down the Ring Fenced Fund and managing the remaining policies within our main Healthy Investment Fund.

We will continue to collect monthly premiums and the date on which a policy matures and is paid out will not change.

We’ve been working really hard to make sure that all the money in the Ring Fenced Fund is paid out to previous members of Coventry Assurance. When we close down the Ring Fenced Fund we will replace the non-guaranteed 15% final bonus we were adding to maturing policies with a guaranteed additional amount of 17.5% of the Savings Fund Guarantee or Sum Assured and the regular bonuses that we have already added.

This will not only increase the value of the amount that is paid out when the policy matures but we will guarantee the amount to be paid, providing premiums are paid until the maturity date.

When we've added this guaranteed additional amount to the savings plan, members will not be eligible to receive any future bonuses.