RL360 Paragon
Savings Plan

Paragon is a regular premium off shore savings policy issued in the Isle of Man by RL360.

The policy offers the potential for growth over the medium to long-term, where its value is linked to the performance of investment funds.

The minimum regular premiums you can pay into the RL360's Paragon can be summarised below:

The minimum single premium you can pay in at any time into the Paragon savings plan are as follows:

The features of RL360's Paragon savings plan are as follows:

• The Paragon savings plan can be in the following currencies: Pound sterling (GBP), Euro (EUR), United States dollar (USD).
• Your policy will be entitled to a 1% accumulation unit bonus, each year.
• You will be able to invest in as many funds as you like from a range of UK authorised and international collective investment schemes provided that you or your financial adviser have registered for online fund switching (without online access you will be limited to investing each premium paid into a maximum of 10 funds). 
• The minimum investment per fund is GBP 25, EUR 38, USD 50.
• The Paragon savings plan allows you to switch between funds and redirect future premiums whenever you want. There is no fee charged for this facility, however RL360 reserves the right to charge a fee in the future.
• RL360 says that you can access valuations online at any time, after registering. The online service centre provides 24 hour access to your policy details and valuations, which can be easily downloaded when required.

The charges of the RL360 Paragon savings plan can be summarised below:

Withdrawals:

1. Regular withdrawals:
   
   In order to be able to take regular withdrawals from your policy, your original premiums’ establishment charge period must be complete.
   
   Regular withdrawals may be taken as a percentage of the fund value, or as a fixed amount. Regular withdrawals are subject to the minimums set
   out below:
   • GBP250
   • EUR375
   • USD500
   
   The total amount of regular withdrawals you can take in any one policy year cannot exceed 15% (inclusive of any investment adviser fee if applicable) of the fund value at the start of the policy year.
   
   Regular withdrawals will be paid in your policy currency and can be paid monthly, quarterly, termly (i.e. on a 4 monthly basis), half-yearly and yearly.
   
   
2. One-off withdrawals:
   
   The maximum will be limited to the value of accumulation units held in your policy and cannot be greater than the surrender value of the policy or bring the policy value below the minimum amount of:
   • GBP5,000
   • EUR7,500
   • USD10,000

NOTE:

• Charges may be higher than those assumed in your personal illustration. For example, external bank transfer charges may apply, or switch charges may be taken.
• The truth is that the Paragon savings plan is highly unlikely to make investors any money in the first 10 years because of high commissions paid to advisers who sell the plan.
• We would highly recommend reading the 'expert verdict' of this review to understand why our team of experts gave RL360's Paragon savings plan 1 out of 5 stars in this independent review.

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