Based on the Isle of Man, RL360° offers a range of tax efficient savings and investments products and you can get full details of its policies, and check out reviews of the company, online. One of its most popular products is Quantum. If you’re not familiar with the details of this flexible and affordable saving solution, keep reading. Here are five things you may not know about it.
- You can choose between life assurance and capital redemption options
Quantum is available as either a life assurance or a capital redemption policy. The life assurance product is offered on a joint life or a single life last death basis and in the majority of cases, the lives assured are the applicants. However, if required, they can be different. The capital redemption policy does not have any lives assured connected to it and it can remain in force for up to 99 years. Once it has been issued, the policy basis cannot be changed.
- The product is available in 7 currencies
For added flexibility, Quantum is available in a total of 7 different currencies. These include pound sterling, euro, United States dollar, Japanese Yen, Australian dollar, Swiss franc and Hong Kong dollar. The policy is valued and any charges deducted in the chosen currency.
- With online fund switching, you can invest in as many funds as you like
As long as you or your financial adviser has registered for online fund switching, you can invest in as many funds as you like from a variety of investment schemes. If you are not registered for fund switching over the internet, you can make up to 10 switches free of charge.
- It’s possible to amend your premiums
As per the terms and conditions, regular premiums can be changed. When you first set up your policy, you will have the chance to opt for premium indexation, which means your premiums will go up automatically on each policy anniversary. You can choose to raise your initial premium by either 5% or 10% each year. You can also increase your premiums at any time, and the changes will take effect on your next premium due date. In addition, it’s possible to reduce your premiums once you have finished your initial allocation period. It’s worth noting that Quantum also allows you to take a break from payments for up to 2 years once the initial allocation period has come to an end.
- You can make withdrawals
Another benefit associated with Quantum is the fact that following the initial allocation period, and as long as you have built up accumulation unit value, you will be able to make regular or one-off withdrawals. Knowing you have this option could provide you with greater peace of mind.
You can have confidence when you invest in any of RL360°’s products, including Quantum. Highlighting its strengths, when the firm underwent a management buyout in 2013, it retained its B+ rating from the independent actuaries AKG.