Friends Provident Premier Ultra savings plan launched

The Friends Provident Premier Ultra savings plan has been launched, aimed at wealthier investors looking for a savings plan with a wide choice of flexible benefits.

Investors must deposit at least $1,500 (£850) a month in the account and have the option of obtaining premiums every month, six months or 12 months.

Paul Tunnicliffe, director of international operations at Friends Provident International, said: "This is a valuable addition to our offshore range."

He added: "One of the crucial features with Premier Ultra is being able to offer a 150 per cent allocation rate – this is something that proves we have gone one step further to move our product range forward to meet the core needs of investors and their advisers."

Furthermore, customers can make single premium payments at any time in a number of denominations including Sterling and Euro.

Withdrawals are allowed to be made at any time from the Friends Provident Premier Ultra savings plan without penalty, and it is also possible to set up regular withdrawals.