Oracle is a lump sum investment that RL360 claims can provide potential for growth over the long-term.
Oracle has no dealing and custody charges or cash accounts to worry about. It’s focused on individuals, companies and trustees with moderate amounts to invest, who want to start small but still reap the potential growth offered through a dedicated range of leading funds.
RL360's Oracle has a minimum investment amount of just USD 20,000, or its equivalent in seven currencies.
Key features of the Oracle:
The minimum amounts needed by RL360's Oracle (both versions) to commence a plan or to top-up an existing plan can be summarised below:
|
Currency |
Initial payment | Additional payment |
| GBP | 20,000 | 2,500 |
| EUR | 24,000 | 3,000 |
| CHF | 26,000 | 3,250 |
| USD | 28,000 | 3,500 |
| AUD | 36,000 | 4,500 |
| HKD | 200,000 | 25,000 |
| JPY | 3,100,000 | 387,500 |
As stated above there are two versions of the Oracle:
Here's a summary of what they entail:
|
Topic |
Capital redemption |
Life assurance |
| Plan | Your plan will be issued on a capital redemption basis. This means that once your chosen payment term is complete, your plan can remain invested until such times as you decide to take its value or it reaches its maturity date. | Your plan will be issued on a life assurance basis. This means that your plan will be issued with up to six lives assured linked to it. In most cases, they are the same as the owners, but can be different if required. |
| Term | The maturity date is set 99 years from the start date at which point your plan will come to an end and they will pay out 100% of your plan value plus GBP100. If you die during the lifetime of your plan, it will not automatically come to an end. It will remain invested and continue to be treated in accordance with the terms and conditions. |
Your plan will remain invested until such times as you decide to take its value, or the last life assured dies, at which point they will pay out 101% of its exit value and the plan will end. |
| Minimum age | The minimum age you can take out a plan is 18. | The minimum age you can take out a plan is 18. |
| Plan currencies | Pound sterling (GBP), Euro (EUR), United States dollar (USD), Swiss franc (CHF), Australian dollar (AUD), Hong Kong dollar (HKD) and Japanese yen (JPY). | Pound sterling (GBP), Euro (EUR), United States dollar (USD), Swiss franc (CHF), Australian dollar (AUD), Hong Kong dollar (HKD) and Japanese yen (JPY). |
| Payment level | Payments start from GBP20,000. There’s no maximum however, whatever amount you choose, it should be affordable to you. | Payments start from GBP20,000. There’s no maximum however, whatever amount you choose, it should be affordable to you. |
| Establishment charge | Payable during the first 5 years of your plan and ranges from 0.00% to 7.50% of the payment you make. Deducted from the plan each quarter. | Payable during the first 5 years of your plan and ranges from 0.00% to 7.50% of the payment you make. Deducted from the plan each quarter. |
| Administration charge | The administration charge is payable for the life of your plan and ranges from 0.60% per year to 1.20% per year, based on the higher of the current plan value or the payment made. The charge is deducted from your plan each quarter. |
The administration charge is payable for the life of your plan and ranges from 0.60% per year to 1.20% per year, based on the higher of the current plan value or the payment made. The charge is deducted from your plan each quarter. |
| Loyalty bonus | A loyalty bonus of 0.50% of the plan value will be applied to your plan on the sixth anniversary and every year thereafter. | A loyalty bonus of 0.50% of the plan value will be applied to your plan on the sixth anniversary and every year thereafter. |
The minimum withdrawal amounts and the corresponding plan value required for it are the same for Oracle's capital redemption and life assurance version.
These withdrawal amounts can be summarised below:
|
Currency |
Minimum withdrawal | Minimum plan value |
| GBP | 250 | 12,500 |
| EUR | 300 | 15,000 |
| CHF | 325 | 16,250 |
| USD | 350 | 17,500 |
| AUD | 450 | 22,500 |
| HKD | 2,500 | 125,000 |
| JPY | 38,750 | 1,937,500 |
NOTE:
Additionally, here's a free guide that can help you achieve better results. In this guide, you'll learn:
Our view is that this product is expensive, inflexible and offers an unattractive range of investment funds.
In our view, this type of 'baby bond' is out of date.
If you already have the Oracle from RL360, and it is worth £500,000 or more, we strongly recommend you seek a Second Opinion to ensure you are on track to get and keep the life you want.
