Formed in 1863 as Blackburn Philanthropic Mutual Assurance Society, Red Rose Assurance, has been providing members throughout Lancashire and much further afield, with savings, investments and life assurance for many years. The Society has a long and proud history of providing ethical savings and investments.
In February 2025 Red Rose Assurance joined The Rechabite Friendly Society, becoming a trading name of the Society, which also trades as Healthy Investment.
Being part of a mutual Friendly Society means there are no shareholders to benefit from your investment. We don't just take an ethical approach to our investments, we make sure we do things right throughout our business. Today the Society provides a faith based, ethical offering.
Red Rose Assurance recently relaunched the Shariah Stocks and Shares Junior ISA. The product has the same eligibility criteria as any other Junior ISA following HMRC’s ISA management rules and is open to children who meet the following:
- UK resident for tax purposes, who does not have a Child Trust Fund
- Aged under 18
- Do not already hold a stocks and shares Junior ISA
- Have not exceeded their annual Junior ISA limit
To open a policy with Red Rose Assurance, the minimum initial deposit is £500 or there is the option to pay a monthly premium, with the minimum amount being £10 per month. A combination of both can be set up upon application, provided the annual 2025/2026 limit of £9,000 isn’t breached. The Junior ISA helps build up a lump sum that becomes available for withdrawal when the child is 18.
Amounts received will be invested by us in the Red Rose Assurance Shariah Unit-linked Life Fund. The Fund is fully invested in the HSBC Islamic Global Equity Fund, which tracks the Dow Jones Islamic Market Global Titans 100 Index.
Past performance is not a reliable indicator of future performance.
As with all investing, capital is at risk. The value of your investments may rise or fall, and you might receive less than you originally invested. How your investment is taxed depends on your personal situation and tax rules could change at any time. If you're uncertain about investing, please seek financial advice.
How do the charges work on your Junior ISA?
There are no fees when you pay money in, transfer, or withdraw money, or close the Junior ISA. The only fee is a 1.5% annual management charge.
Shariah Compliance
The Red Rose Assurance Shariah Unit-Linked Life Fund is fully invested in the HSBC Islamic Global Equity Fund, which tracks the Dow Jones Islamic Market Global Titans 100 Index.
What is Shariah Finance?
Shariah is a legal and ethical framework that governs both personal behaviour and financial practices. In accordance with its principles:
Interest (riba) is strictly prohibited
Investments in non-compliant industries (e.g., alcohol, gambling, and weapons) are not allowed
Emphasis is placed on ethical conduct, social justice, and positive societal impact.
Red Rose Shariah ISA: Faithful to Principles
This ISA adheres to approved Islamic finance guidelines and is overseen by an independent Shariah Supervisory Committee. The committee:
Approves the fund’s investment policies and objectives
Ensures ongoing compliance with Shariah principles
Oversees the handling of any non-compliant income, including charitable redirection
You will find more information on the website at www.redroseassurance.co.uk
Approved date 03/09/2025
Red Rose Assurance is a trading name of The Rechabite Friendly Society Limited, an incorporated friendly society, Friendly Society Register no. 218f.
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register no. 109994.
Registered address: 2 The Old Court House, Tenterden Street, Bury BL9 0AL
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