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Policy fee increase reminder

In 2013 the fixed policy fees on some of RL360°'s products will increase in line with the Isle of Man Retail Price Index (RPI), which as at 30 September 2012 was 2.8%.

This will affect clients invested in the following products:



Background


The Terms & Conditions of these products allow us to increase the fees annually on the policy anniversary in line with the Isle of Man Retail Price Index (RPI) correct as at 30 September of the previous year.


We only began exercising this right at the start of 2011, meaning that some product policy fees had not changed for over 10 years. During that time our costs of administering policies had increased significantly.


Advisers do not need to take any action. The changes in the policy fees will be automatically increased and deducted in the normal way.


There are no changes to the benefits, features or terms and conditions of the policies as a result of the fee change. The policy number and all other details will remain the same.


Clients may continue to make additional contributions to their policy at any time and at any amount equal to, or over, our current minimum investment levels.