How your With Profits fund is managed is all set out in a document called the Principles and Practice of Financial Management (PPFM) document. Due to consolidation of insurance companies over the years, it is often the case that some companies have more than one fund, so you need to check that you are looking at the right PPFM.

Some of the key points to consider when assessing your fund include;

• What is the mix of the investment assets in the fund?
• Is that mix of investment assets an efficient portfolio or does the asset mix consist mainly of cautious assets such as gilts indicating that the company needs to be cautious to be sure to meet the guarantees made to some of its With Profits policyholders?
• How does your insurance company calculate surrender values for people who ask for their money back early?
• What is the company's current stance on applying Market Value Reductions?
  

To read the PPFM document for your fund, please click the relevant name:

Aegon Scottish Equitable
Aviva (including Norwich Union, Commercial Union and CGNU)
Axa (including Axa Sun Life and Sun Life)
Clerical Medical
Co-operative Insurance
Ecclesiastical
Equitable Life (PPFM not currently on website)
Friends Provident
Legal & General
Liverpool Victoria
London Life
MGM Advantage
NPI (Pearl)
National Provident (Pearl)
National Farmers Union
Pearl
Phoenix (including Alba, Britannic, Phoenix, Scottish Mutual and Scottish Provident)
Prudential (including Scottish Amicable)
Reliance Mutual
Royal London (including Scottish Life and Phoenix life Assurance Ltd)
Scottish Friendly
Scottish Widows
Standard Life
Teachers Assurance
The Childrens Mutual (Tunbridge Wells Equitable)
Wesleyan
Windsor Life
Winterthur (Axa)
Zurich