RL360 Protected Lifestyle - Introduction
Introduction
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Protected Lifestyle policies were sold internationally by Scottish Life International Insurance Company Limited prior to 2009. Protected Lifestyle is now closed to new business.
Protected Lifestyle was predominantly a protection based policy, similar to our new business protection policy LifePlan. It provided various benefits such as life and critical illness cover, in return for regular premiums.
The available fund range originally consisted of our quarterly dealing, internal Capital Protected Funds, denominated in GBP, USD and EUR. This fund range formally closed on 21 September 2018.
Available fund ranges
Internal funds
Launched on 21 September 2018 to replace the Capital Protected Funds, our range of 16 multi-asset portfolios link to a number of underlying funds investing in cash, fixed income and equities. This combination aims to provide a steady rate of return but with low volatility. There are 8 GBP funds and 8 USD funds; some are focused on investing in the UK, some in the US and some globally, so you can choose the region and currency to suit your investment objectives. There is no bid/offer spread on switches and premium payments. Our Multi-Asset (MAP) Fund Guide provides more details on the portfolio series.
External funds
Introduced to Protected Lifestyle in December 2014, this range offers 50+ direct funds (100+ when you factor in alternative currency variants) in EUR, GBP and USD. They have been selected from, and are managed by, established fund groups outside of RL360. The range allows clients to diversify their policy holding further through wider access to different sectors and geographical regions. With this comes riskier and more volatile funds, but also the potential for greater growth. There is a 2.5% bid/offer spread applied on switches and new premium payments. Our Protection Fund Guide provides details for all the options available, including objectives and charges.
Your clients have the flexibility to invest in any combination of the external funds and the new internal portfolios and across any of the currencies offered. And as the external and internal funds are daily traded and priced, this gives them the added freedom to move between funds at any time instead of being locked into a three month dealing cycle.