RL360° offers a range of savings and investment products and one of its most popular policies is Quantum. A long-term, flexible saving solution, it has proved to be attractive to a range of investors. Here, we take a look at just some of the reasons why it holds such appeal for clients.
Tax rules on the Isle of Man
One of the factors contributing to the success of the product is the fact that it is highly tax efficient. RL360° is based on the Isle of Man, which is globally renowned as a leading offshore financial jurisdiction. This brings its clients, including those who opt for Quantum policies, considerable scope for tax efficiencies. The tax rules in the Isle of Man are simple; there is no capital gains tax, no wealth taxes and no withholding taxes.
Another major appeal of Quantum is its impressive level of flexibility. For example, the product is available with minimum monthly premiums of GBP200 for premium terms of 10 years plus and premiums can be amended if required at a later stage. Clients also have the option of taking a break from payments for up to 2 years once their initial allocation period has finished. In addition, they can pay in lump sums or make cash withdrawals on a one-off or regular basis to suit their needs.
Quantum is available on either a capital redemption or a life assurance basis, and people can take their pick between 7 different currencies and a range of payment methods.
The product also provides clients with access to a broad range of first-rate funds that cover a variety of sectors and asset classes. People can choose from more than 150 funds and, as long as they have access to RL360°’s online service, they can change between funds at no cost. This helps ensure that investors can tailor the product to suit their goals and their personal approach towards risk.
Given advantages like these, it’s not hard to see why Quantum has shown enduring appeal among people looking to grow their wealth.
Royal London 360° formed in 2008 when Scottish Provident International Life Assurance Limited and Scottish Life International Insurance Company Limited came together. The company changed its name from Royal London 360° to RL360° in November 2013 following a management-led buyout, which was supported by global insurance group MunichRe and independent private equity firm Vitruvian Partners.