Flexible Funding Scheme Q&As

History

Q Under which brand was the Flexible Funding Scheme originally sold? 

A The Flexible Funding Scheme was originally sold under the Clerical Medical International brand. RL360 Group completed the acquisition of Clerical Medical International in November 2015, and Premier Bond policies are now administered under RL360° Services. 

 

Q How long was the Flexible Funding Scheme designed to be held? 

A The Flexible Funding Scheme was designed as a medium to long-term investment and should be held for at least 10 years.

 

Changing the policy

Q Can the policy basis be changed after issue? 

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

 

Q Can the policy currency be changed? 

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

 

Funds

Q What funds can I choose? 

A You can choose from a range of investment funds. We provide a Fund Centre page to keep you informed about the fund range and their past performance. 

 

Q Do I get charged for changing funds? 

A You may switch funds up to 12 times in any calendar year, free of charge. If you request more than 12 switches you will be charged 1% of the value of your switch, subject to a minimum charge of £10 and a maximum charge of £250. 

 

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

A No. You can only access the funds available in the Flexible Funding Scheme fund range. 

 

Q Who is responsible for my fund choices? 

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

 

Withdrawals

Q Can I take withdrawals from my Flexible Funding Scheme? 

A Yes. You can take regular withdrawals subject to a minimum of £200 ($300 or €300) and a maximum of 10% of your premiums paid per policy year. We recommend you discuss the tax implications of taking withdrawals with your financial adviser.

 

Online Services

Q Can I view the performance of my Flexible Funding Scheme online? 

A RL360° provides online access for it's own policyholders and we fully intend to provide RL360° Services policyholders with online access too, in due course.