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About Scottish Friendly

Scottish Friendly is a leading UK mutual life and investments organization that has been dedicated to helping families achieve financial wellbeing for over 160 years. With roots tracing back to 1862 as the City of Glasgow Friendly Society, Scottish Friendly has grown to become one of the largest mutual life offices in the UK, with over £4.5 billion in assets and 814,000 members as of April 2023. As a mutual, Scottish Friendly is owned by its members and run for their benefit, not for shareholders, ensuring that the interests of its customers always come first.

Standout Features

Scottish Friendly offers a wide range of investment and protection products designed to help families plan for their futures. Some of their standout features include:

• Flexible ISAs and Junior ISAs: Scottish Friendly's ISAs and Junior ISAs offer a tax-efficient way to save and invest for the future, with a choice of investment funds to suit different risk appetites and goals.

• Life Insurance: Scottish Friendly provides a range of life insurance products, including whole of life and term life insurance, to help protect families in the event of the unexpected.

• Savings Plans: Scottish Friendly's savings plans offer a convenient way to save regularly, with options for both adults and children.

• Business Solutions: Scottish Friendly also provides life and investment products and services to other financial organizations, helping them to meet the needs of their customers.

User Reviews

Scottish Friendly has a strong reputation for customer service, with positive reviews from satisfied customers. On Trustpilot, Scottish Friendly has a rating of 4.6 out of 5 stars, with many customers praising the company's friendly and helpful staff, as well as the ease of use of their products and services.

One customer review on Trustpilot states: "Scottish Friendly has been brilliant in helping me set up my child's savings account. The staff were friendly, knowledgeable, and made the process very straightforward."

Another review notes: "I've been with Scottish Friendly for many years and have always found them to be reliable and trustworthy. Their products are easy to understand and their customer service is excellent."

Promotion and Loyalty Program

Scottish Friendly regularly runs promotions and offers to help customers save and invest. For example, they currently offer a £50 Amazon voucher when you open a new ISA or Junior ISA with a minimum investment of £25 per month.

While Scottish Friendly does not have a formal loyalty program, the company is committed to providing value to its members through its mutual structure. As a mutual, Scottish Friendly does not have shareholders to pay, allowing it to reinvest its profits into providing quality products, services, and customer benefits.

FAQs

What is a mutual life insurance company? A mutual life insurance company is a type of insurance company that is owned by its policyholders, rather than by shareholders. Mutual companies are run for the benefit of their members, with any profits being used to provide better products, services, and customer benefits.

How do I open an account with Scottish Friendly? You can open an account with Scottish Friendly by visiting their website at scottishfriendly.co.uk and clicking on the "Open an Account" button. Alternatively, you can call their customer service team on 0333 323 5433 for assistance.

What is the minimum investment for Scottish Friendly's ISAs and savings plans? The minimum investment for Scottish Friendly's ISAs and savings plans varies depending on the specific product. However, many of their products have a minimum investment of just £10 per month, making them accessible to a wide range of savers and investors.

Does Scottish Friendly offer financial advice? Scottish Friendly does not provide financial advice directly. However, they do offer guidance and support to help customers choose the right products for their needs. If you require financial advice, Scottish Friendly recommends speaking to an independent financial advisor.