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Welcome to RL360's

dedicated financial adviser website

For financial advisers only

Not to be distributed to, or relied on by, retail clients

PIMS Q&As

A sophisticated portfolio bond for more experienced investors where premiums start at $80,000

Questions and Answers

We realise that time can be in short supply, especially when you're on the road conducting client meetings. So we have pulled together this list of frequently asked questions to help provide you with the answers you need as quickly as possible.


Changing the policy

Q Can the policy basis be changed between life assurance and capital redemption after issue?

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


Q Can the policy currency be changed once the policy has been issued?

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


Q Can my client switch from a PIMS Flexible policy to PIMS Focused?

A No. But any client that holds a PIMS Focused can switch to a PIMS Flexible. A conversion fee, taken as a percentage of the total premiums paid, will be deducted when the policy is upgraded.


Cash Account

Q Is there a minimum balance that should be maintained within the PIMS cash account?

A A minimum of 2% of the policy value must be retained in the cash account throughout the life of the policy.


Premiums

Q If my client decides to top-up their PIMS policy, can the charging structure for the additional premium be different to the initial premium?

A Yes. A charging structure that is different from the initial premium can be selected.


Charges

Q Are the charges that apply on a PIMS policy taken every calendar quarter, or quarterly anniversary of the policy start date?

A Any establishment, percentage administration or flat administration fees are taken on the quarterly anniversary of the policy start date.


Investments

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

A Yes. Assuming your client holds a PIMS Flexible policy they will be able to invest in an almost unlimited range of assets subject to our acceptance. For further details please refer to the PIMS Guide to Investment. If your client holds a PIMS Focused policy they can choose from a large but defined range of funds, please download the PIMS Focused Fund List.


Q Is it possible to use a third-party investment platform for dealing, rather than RL360?

A Yes it is. We have a number of relationships in place at present. If you are currently working with a platform and want to know if it is possible for it to be used in conjunction with PIMS, please contact your regional sales manager to discuss.


Withdrawals

Q What is the maximum amount my client can withdraw from their PIMS policy?

A A withdrawal cannot result in the policy value dropping below the minimum amount or 15% of the premiums paid to date, whichever is higher. The minimum policy values are detailed in PIMS The Facts .


Q Are withdrawals restricted within the early surrender fee period?

A Withdrawals must not exceed the minimum policy value limits as above, there are no additional restrictions during the early surrender fee period.


Adviser Fees

Q Is there a limit on the amount of trail commission and/or investment adviser fee that can be taken?

A Yes. You cannot exceed 1.5% per year of the current policy value for either one, or a combination of these charges.


Q If I take trail commission and/or an investment adviser fee and my client decides to move back to the UK will they have to include this fee as part of their 5% tax deferred withdrawals?

A No. These are not currently included in the client's 5% tax deferred withdrawals should they move back to the UK, but if legislation changes in the future either one or both could.