Quantum from RL360° is a popular savings product that offers you the opportunity to grow your wealth over the medium to long term. However, before you invest your money in it, it’s important to understand exactly what it is and how it may benefit you. With this in mind, here are five key facts you should know about this savings policy.
- It can be issued on a life assurance or capital redemption basis
Firstly, Quantum can be issued as either a capital redemption or a life assurance policy. The capital redemption policy is not linked to any lives assured and it can remain in force for up to 99 years. The life assurance policy is issued on the basis of a single or joint life last death. In most instances, the life or lives assured are the applicants, but they can be different people if this is required. Bear in mind that the youngest person has to be no older than 65 when the product is issued. It will remain in force until the death of the last life assured or until the policy is surrendered.
- You can tailor the product to suit your precise needs
Quantum is highly flexible and you can tailor it to meet your precise needs. For example, it is available in 7 different currencies and you can take your pick from over 150 funds from many of the world’s leading fund managers. If you use the online service, there is no charge for changing funds. The product also gives you the chance to take a break from saving, to pay in lump sums and to increase or decrease your premiums.
- The minimum premium is just GBP200 per month
You don’t need a fortune to start saving through Quantum. The minimum premium is just GBP200 (or USD320) per month. If you wish, you can increase these premiums at a later stage.
- You can make regular withdrawals
Once your initial allocation period is complete and you have built up accumulation unit value, you have the option of making regular or one-off withdrawals from your policy. These can be taken as fixed amounts or as a percentage of your fund value.
- The product is only available through financial advisers
When investing in any policy, it is recommended that you seek expert advice, and this applies to Quantum. In fact, RL360° will only accept business that comes through financial advisers, so you will need to discuss your options with one of these specialists before you apply.
RL360° Quantum is continually being updated as part of the firm’s commitment to offering attractive savings and investment products to its customers. To find out more about it, you can visit the company’s website.
Royal London 360° was formed in 2008 when Scottish Provident International Life Assurance Limited and Scottish Life International Insurance Company Limited came together. Its name changed to RL360° in November 2013 following a management-led buyout.