Cancellations, redemptions and surrenders

All Metfriendly plans can be cancelled, surrendered or cashed in at any stage. However, depending on the plan involved, there are usually some conditions and consequences that come with any cancellation or cashing-in.

Find out how we calculate surrender values

Which plans can be surrendered?

Fixed Term Savings Plans and With-Profit Bonds can only be surrendered in full. However, if your investment or regular premium was particularly large we may have split it into smaller individual ‘certificates’ when you applied. If this is the case then each individual ‘certificate’ can be surrendered independently. Your latest benefit statement will show whether there has been a split into individual certificates.

For ISAs (including lump sum investments) you can request either the complete surrender of a plan certificate or a partial withdrawal.

Withdrawals of a minimum £500 can be made on multiple occasions, providing the total value of your remaining ISA certificate(s) is at least £1,000.

Monthly Savings ISA and regular savings ISA certificates that are in the first tax year of investment can only be surrendered in full. Should you continue paying premiums after surrendering in full, we will issue a new plan certificate and it will be subject to the current minimum premium at that time.

Your Flexible Savings Plan may have been split into segments. If this is the case individual segments can be surrendered – you do not have to surrender the entire plan. You may find it useful to request a written surrender valuation to identify the value of each segment. If it hasn’t been split into segments the whole plan has to be surrendered.

How to initiate a surrender

To surrender/cash-in a plan please call us on 01689 891454 to discuss the options available to you. You can also email us and we will contact you.

When will I get my money?

Where you pay regular premiums, including payments into the current year of a flexible plan (Regular Premium ISA or Flexible Savings Plan), then premiums will cease and we will pay out your plan on the 7th day of the following month. (Earlier payment will incur an administration fee of £10, and we will hold back any premiums in transit.)

For lump sum contracts, and those plans where premiums have ceased (e.g. ISAs in a previous tax year), we will pay the surrender value into your bank account on the Wednesday of the following week.

Cancelling your protection policies.

The policyholder is authorised to cancel their own protection policy. If there are two policyholders then we must receive signed authorisation from both of the policyholders.

Cancellation requests must be received in writing, quoting the policy number, when to cancel and including dated signatures from all policyholders.

We will action cancellation requests immediately but may not be able to stop a scheduled premium collection through payroll. If this is the case we will refund any additional premiums after they have been received by Metfriendly.

‘I would recommend Metfriendly to everyone.’

Mrs V Thompson, Dagenham

Good service – always very helpful and informative.

Miss J Coward, South Norwood, London

Very happy with the service. I have a number of policies for myself and my children.

Police Sergeant S Drysdale, DPS Borough Support

Great opportunity for family members to be offered the same offers as members.

Miss A McLeary, ESB

‘I have always been pleased with the returns from my Metfriendly policies.’

Mr P Payne, Bordon

‘Hassle-free savings that are started every year on my behalf, without me having to call up.’


D.C. R McLaren, Hackney Borough Stations

‘Very pleased with the service I’ve received to help me save money direct from my salary.’

DC Chris W, SO15

‘I’ve used Metfriendly for the last 5 years and recently the money has gone towards a deposit for our house. I will be signing back up next year to help save towards my kids future.’

Mrs A Cooper, Met CC, Bow

‘I’ve used Metfriendly for the last 5 years and recently the money has gone towards a deposit for our house which we are moving into next month. I will be signing back up next month to help save towards my kids future.’


Amanda Cooper (Met CC, Bow)