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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

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.


Applying for a plan (Life assurance basis)

Q I have a client aged 70 who wants to invest into Oracle. Your literature indicates that the maximum age of the youngest life assured is 65 when the plan is issued. Does this mean that my client cannot invest into this product?

A Not necessarily. Oracle can have up to six lives assured named on the plan. Provided that at least one of the lives assured is aged 65 or under when the plan is issued, the plan owner can be older than 65. In this scenario the client could add their children or grandchildren as the additional lives assured if they wanted to.


Making changes to the plan

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

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


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

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


Q Can my client add or remove lives assured once their plan has been issued?

A Yes. Providing your client is not a UK resident, they can add or remove a life assured on an Oracle plan. The maximum number of lives assured is 6.


Payments

Q I have a client who wants to invest into Oracle. Their funds are currently held in Singapore dollars. Will RL360 accept payments in a different currency to the options available via Oracle?

A Yes. Subject to RL360 approval, clients can make their payments in any freely tradeable currency. We will then use an exchange rate based on those commercially available in the market to convert the payment into their chosen plan currency.


Allocation rates

Q My client invested USD 100,000 into an Oracle and received 102% allocation. They now want to increase their plan with an additional payment of USD 50,000. What allocation rate will the additional payment receive?

A The additional USD 50,000 will be applied to the plan with 103% allocation. The top up allocation rate is based on the total in-force payments paid (USD 100,000 + USD 50,000 = USD 150,000) Please note that only the additional payment receives 103% allocation.


Loyalty bonus

Q How does the loyalty bonus work?

A The loyalty bonus of 0.50% of the plan value will be applied at the sixth anniversary and annually thereafter whilst the plan remains active. Furthermore, each additional payment (top up) will attract its own loyalty bonus calculated in the same way as described above.


Funds

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

A No. Your client can only access the funds available in the Oracle fund range. For further details please refer to the Savings and Investment Fund Guide.


Online services

Q Is it possible to instruct fund switches online?

A Yes. You can instruct switches online as long as you are registered for our Online Service Centre and have the necessary dealing authority. Read more about our online excellence here.