National Friendly withdraws products from market

National Friendly has withdrawn its Five Year Fixed Healthcare and Healthguard products for sale to new customers.

The mutual said the decision has been taken to protect the capital integrity of the group as the only provider to be writing lifelong product.

Richard Sear, chief executive, says: "With claims rising as a whole across the PMI market, we are no longer in a position where we can sustain this product at the existing levels of volume and value.

"As a mutual, we firmly believe that our first responsibility is to protect our members. We are therefore not frightened to make the right decisions to underline and secure the Society's future."

National Friendly will continue to sell One Fund and added it has a number of new products already under development, to be presented over the coming months.