Teachers Assurance (officially Teachers Provident Society Limited and previously known as the Teachers Group and simply Teachers) is a friendly society in the

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotlan ...

. The company offers a range of

savings Wealth is the abundance of valuable financial assets or physical possessions which can be converted into a form that can be used for transactions. This includes the core meaning as held in the originating Old English word , which is from an ...

investment Investment is traditionally defined as the "commitment of resources into something expected to gain value over time". If an investment involves money, then it can be defined as a "commitment of money to receive more money later". From a broade ...

home insurance, health and life cover for individuals and their families, designed with teachers in mind. Teachers Assurance is a mutual friendly society, which means it has no shareholders. The company is owned by, and works for, its members (the people who save and invest in their products). Any profits are shared between members or reinvested to provide services to the teaching profession. It was announced in December 2014 that the business of Teachers would, subject to regulatory and member approval, be transferred to Liverpool Victoria Friendly Society. Following the vote in favour of transfer to LV= (Liverpool Victoria Friendly Society) by Teachers Assurance members at the Special General Meeting in December 2015 and the agreement of the regulators, Teachers Assurance business was transferred to LV= on 1 June 2016.

History

Teachers Assurance was initiated in 1877 by the

NUT Nut often refers to: * Nut (fruit), fruit composed of a hard shell and a seed * Nut (food), a dry and edible fruit or seed, including but not limited to true nuts * Nut (hardware), fastener used with a bolt Nut, NUT or Nuts may also refer to: A ...

(National Union of Teachers). Although they are now separate companies, the two still work in partnership and Teachers Assurance is endorsed by the NUT to provide financial services to members.

References

External links

Teachers Assurance
{{National Union of Teachers Friendly societies of the United Kingdom