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Important - financial advice

This is only a summary and general introduction to PIMS. You should speak to your financial adviser and read the PIMS literature suite before making an investment decision. We can only accept business that is introduced via a financial adviser.

Personal Investment Management Service

Our single premium portfolio bond is built around a simple proposition of choice, flexibility and tax-efficiency.

Questions and Answers

We have pulled together this list of frequently asked questions to help answer some of your most common queries.


Changing the policy

Q Can the policy basis be changed between life assurance and capital redemption after issue?

A No. The policy basis cannot be changed after issue.


Q Can the policy currency be changed once the policy has been issued?

A No. The policy currency must remain the same as the currency selected at application stage.


Q Can I client switch from a PIMS Flexible policy to PIMS Focused?

A No. But if you hold a PIMS Focused policy you can switch to PIMS Flexible. A conversion fee, taken as a percentage of the total premiums paid, will be deducted when the policy is upgraded.


Cash Account

Q Is there a minimum balance that I should maintain within the PIMS cash account?

A A minimum of 2% of the policy value must be retained in the cash account throughout the life of the policy.


Premiums

Q If I decide to pay more money into my PIMS policy, can the charging structure for the additional premium be different to the initial premium?

A Yes. A charging structure that is different from the initial premium can be selected.


Charges

Q Are the charges that apply on a PIMS policy taken every calendar quarter, or quarterly in-line with the policy start date?

A Any establishment, percentage administration or flat administration fees are deducted quarterly in-line with the policy start date.


Investments

Q Can I hold assets such as stocks, shares, cash deposits and structured products within the policy?

A Yes. Assuming you hold a PIMS Flexible policy you will be able to invest in an almost unlimited range of assets subject to our acceptance. For further details please refer to the PIMS Guide to Investment. If you hold a PIMS Focused policy you can choose from a large but defined range of funds.


Q Who is responsible for investment decisions?

A You or the company you nominate to act on your behalf. RL360° does not provide investment advice and will not provide you with guidance as to investments which are suitable for you.


PIMS is a policy where its value is linked to the investments you choose to invest in. In some cases you may be making decisions yourself or with the aid of your financial adviser, or allowing an investment adviser or discretionary manager to make them for you. PIMS empowers you with the ability to access a vast number of different investments from many companies across the globe, but RL360° is not responsible for how those monies are then invested, we only reflect their value within your policy. It is their performance which ultimately impacts on your PIMS policy with us. Simply and importantly you must ensure you are happy with the investment choices that you or your adviser is making. We will not check their suitability for you.


There is a clear division of responsibilities between RL360° as a product provider providing you with PIMS and the companies which manage the investments to which your policy value is linked.


The investments you chose should have a range of supporting materials available from the company that provides them. These will commonly detail how the investment is structured, how it is performing, the make up of its underlying assets and usually much more.


The final responsibility for investment selection lies with you and your adviser. If the investments selected for your policy reduce in value, this will reduce your policy value and RL360° will not compensate you as a result.


Withdrawals

Q What is the maximum amount I can withdraw from my PIMS policy?

A A withdrawal cannot result in the policy value dropping below the minimum amount or 15% of the premiums paid to date, whichever is higher. The minimum policy values are detailed in PIMS The Facts .


Q Are withdrawals restricted within the early surrender fee period?

A Withdrawals must not exceed the minimum policy value limits as above, there are no additional restrictions during the early surrender fee period.

Important

Financial advice

This is only a summary and general introduction to PIMS. You should speak to your financial adviser and read the PIMS literature suite before making an investment decision. We can only accept business that is introduced via a financial adviser.