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SEDOL
This stands for the Stock Exchange Daily Official List. It is an identifier assigned by the London Stock Exchange for all securities issued in the United Kingdom. They also form part of the security's ISIN as well.

SIPP
This stands for Self-invested Personal Pension and is a UK Government-approved personal pension scheme which allows individuals to make their own investment decisions from a wide range of investments.

Security Assignment
This is where the policyholder wishes to use their policy as security (usually against a loan from a bank). More information can be found in the RL360° Guide to Assignments (TECH005).

Servicing Agent
A company or individual who provides financial advice or assists with ongoing servicing of a policy. The company that is appointed as a servicing agent may differ from the original company or individual who recommended the policy/bond.

Settlor
A person who sets up a trust or makes a settlement by means of money or property. You can refer to our "Guide to Trusts" booklet (TRU001) for further information.

Single Life
This is the basis on which a policy is set up with only one life assured and the policy will cease or the sum assured will be paid upon the death of this one person.

Single price
Some funds price on a single price basis so you buy and sell at the same price as opposed to a unit trust where you have a bid and offer price.

Sophisticated Investor Fund
See "EIF"(Experienced Investor Fund)

Specialist Investor Fund
See "EIF"(Experienced Investor Fund)

Standing Order
A form giving the policyholder's bank or building society authority to pay regular amounts to someone (or example: a premium for a RL360° investment).

Sum assured
An amount payable when a life assured dies.

Surrender Value
The amount a policyholder might get (less outstanding fees or charges) if they cash in their policy.