Guaranteed Equity Bond Q&As
History
Q Under which brand was the Guaranteed Equity Bond originally sold?
A The Guaranteed Equity Bond was originally sold under the Clerical Medical International brand. RL360 Group completed the acquisition of Clerical Medical International in November 2015, and Guaranteed Equity Bond policies are now administered under RL360 Services.
Q How long was the Guaranteed Equity Bond designed to be held?
A Although the Guaranteed Equity Bond was sold initially as a limited issue investment for six years, the bond is a whole of life contract and investors can continue to hold the contract and invest from a range of our investment funds.
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 is only available in Pound Sterling.
Funds
Q What funds can I choose?
A You can choose from a range of investment funds or an offshore with-profits fund. We provide a Fund Centre and With-Profits pages to keep you informed about the fund range and their past performance. The minimum you can hold in any fund is £1,000.
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.
If you are switching out of an Offshore With-Profits Fund a market value adjuster (MVA) may apply.
Q Can I hold assets such as stocks, shares, cash deposits and structured products within my policy?
A No. You can only access the investment funds available in the Guaranteed Equity Bond 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 Guaranteed Equity Bond?
A Yes. You can take regular withdrawals subject to a minimum of £200. The maximum withdrawal you can take is 10% of your policy surrender value. The minimum plan value to maintain your policy is £1,000 and the minimum you can hold in any fund is £1,000.
We recommend you discuss the tax implications of taking withdrawals with your financial adviser.
Online Services
Q Can I view the performance of my Guaranteed Equity Bond online?
A Unfortunately, we do not currently provide online access for this product. If you require details of your policy, including a current valuation, please get in touch with our Customer Services Team using the Contact us details at the top of this page.