RL360 LifePlan flexible life cover questions and answers

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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 plan

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.


Payment methods

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

A We do not pass on any fees charged by credit card providers unless it is American Express. Where payments are made by American Express, we will collect an additional 1% of the value to help cover their fee. 


Q What is the minimum payment term allowed? 

A The minimum term is 5 years.



Q How are benefits paid for?

A Benefits are paid for through the cancellation of units, and are taken on a monthly basis in advance. 


Q What is the maximum level of life cover available?

A The maximum is USD7,500,000 (or currency equivalent) however, country restrictions may apply. 


Q Is there a maximum amount of total benefits?

 A Yes. The value of all benefits cannot exceed USD7,500,000 (or currency equivalent).



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. The only fund charge applied is the underlying annual management charge of the direct fund itself.


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.