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Welcome to RL360°'s

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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 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.


Payment methods

Q My client would like to pay their premiums by credit card. Are there any additional charges for paying by this method?

A No. Unlike some life companies who charge an additional 1% per each premium paid, we apply NO additional charges for paying by credit card.


Premiums

Q My client currently pays their premiums on an annual basis. They would like to change the frequency to monthly. Can you do this?

A Yes. Once the initial allocation period is complete premium frequencies can be changed, but only on the policy anniversary.


Premium incentive

Q If my client increases their regular premium, will they qualify for another premium incentive based on the increase?

A Yes. As long as there is more than 10 years outstanding of the original premium term and the increase is in excess of USD5,040 per year.


Loyalty bonus

Q Will clients still qualify for a loyalty bonus if they surrender their policy before the end of the premium term?

A Yes. If a policy is surrendered within 5 years of the end of the premium term, a proportion of the loyalty bonus that would have been paid at the end of the premium term will be applied to the policy.

For further information, please refer to the policy Terms and Conditions.


Charges

Q How is the contract charge taken from the policy?

A The contract charge is deducted from the policy each month in arrears. It is deducted proportionally across initial and accumulation units.


Funds

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

A No. Your client can only access the funds available in the Quantum Malaysia fund range.

For further details please refer to the Investment Guide.


Q What charges are applied to the underlying funds that my clients can invest in?

A The fund range provides your clients access to direct funds without any initial charges or bid/offer spreads. Some competitor offerings still apply initial charges up to 2% of each premium paid. In addition, because clients invest directly into their selected funds, rather than via internal mirror funds which some life companies offer, there are no additional mirror fund charges that could dilute the underlying fund performance - all our charges are taken through the policy. The only fund charge applied is the underlying annual management charge of the direct fund itself.


Illustrations

Q Why are some illustration surrender values greater than the corresponding fund values for the same year?

A During the last five years of the premium term, a proportion of the loyalty bonus that would normally be applied to the policy at the end of the premium term is applied to the policy if it is surrendered early. In certain scenarios this can result in the surrender values being greater than the corresponding fund values. Refer to the "Loyalty bonus" section above for further information.


Valuations

Q Why does my clients valuation show negative accumulation units?

A The fixed monthly policy fee is deducted from accumulation units. During the initial allocation period there are no accumulation units applied to the policy; therefore the fixed monthly fee will create negative accumulation units. Once the initial allocation period is complete, subsequent premiums will purchase accumulation units that will in turn reduce the negative unit position.


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.