A full encashment results in penalties being applied through surrender charges linked to the term of the policy.
In effect, this means that in polices with an original term of more than 15 years, most, if not all, of the first 18 months - 2 years premiums will be lost upon surrender.
It is important to be aware that the RL360 Paragon is a long-term savings plan, if you decided to cancel the plan early you could lose a large proportion of the money you have saved.
In today’s market place, there is absolutely no reason to lock yourself in to a contractual savings plan like this.
Circumstances change, unforeseen events occur, and you may need to access your hard-earned savings.
This, in our view, should be possible without a penalty.