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RL360 Paragon Savings Plan

RL360 is based in the offshore financial stronghold of the Isle of Man, from where they do business in Asia, Africa, the Middle East, Latin America and the UK.

RL360 is part of International Financial Group Limited (IFGL).

IFGL provides investment, savings and protection solutions to international investors around the world and the group comprises RL360, RL360° Services, Ardan International and now also Friends Provident International.

IFGL has 210,000 policies, USD24 billion of assets under administration and 650 staff working for them.

NOTE: From the 1st of July, 2019, RL360's Paragon Savings Plan has been withdrawn from sales to new applicants.

Our Verdict
A Closer Look
Customer Reviews

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:

Currency Monthly Quarterly Half-yearly Yearly
GBP 100 300 600 1,000
EUR 150 450 900 1,500
USD 200 600 1,200 2,000


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


Additional single premiums
GBP 1,500
EUR 2,250
USD 3,000


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:


Establishment charge An establishment charge will be deducted by cancelling a percentage of the initial units on each policy anniversary for the first 5 years.
Premium charge It is deducted from the accumulation units and is 7% of each premium paid.
Contract charge Is an ongoing charge of 0.375% of the current fund value and is deducted on the quarterly anniversary from accumulation units.
Policy fee This is taken on the quarterly anniversary from the accumulation unit balance. The quarterly fee is GBP 10.50, EUR 15.75 and USD 21. This fee increases every year in line with the Isle of Man Retail Price Index.



  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


  • 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.

Additionally, here's a free guide that can help you achieve better results. In this guide, you'll learn:

  • Academic evidence only shared with a select few firms across the world
  • A real-life example of why you should never try to outguess the market
  • Why a fund's past performance is not enough to predict future returns
  • Why you need to focus on what you can control and why this leads to a better investment experience
  • Why you should accept the markets for what they are
  • What can impact behaviour and make people seek instant gratification

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The Pros

> Large, expanding life company
> Potential for better than bank rate return IF all contributions are made throughout the term

The Cons

> Inflexible
> Opaque and complex charging structure
> Grossly expensive way to invest
> Easily and often mis-represented at the point of sale
What are the surrender charges if I want to get out of my RL360 Paragon savings plan?

The surrender charges are very high.

For example, the policy holder can pay up to 54% of whatever they put in for the first 4 years if they want to exit.

However, even if you don’t surrender, these initial or establishment charges are taken anyway to cover sales costs. In this example, the 54% is taken over the first 5 years.

Seek advice from a regulated financial planner if you're thinking about surrendering or cashing in your plan so you understand all your options and their consequences.

What are the tax implications of the RL360 Paragon?

RL360 is subject to Isle of Man tax laws. The Isle of Man does not tax any growth or income earned in your policy.

However, withholding tax may be deducted at source on income arising from investments held in some countries, which cannot be reclaimed by them.

You may have a personal liability to tax depending on the tax regime in your country of residence and your own personal circumstances. 

Are there early encashment charges?

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.

What are the investment choices and minimum investment amounts?

You choose from over 100 risk-rated funds covering all the major world markets and investment classes.

The funds section contains performance statistics which are updated monthly, fund prices which are updated daily and fund fact sheets on each fund.



Contract term:

5 to 25 years.

  • GBP: 100 monthly, 300 quarterly, 600 half-yearly, 1,000 yearly.
  • EURO: 150 monthly, 450 quarterly, 900 half-yearly, 1,500 yearly.
  • USD: 200 monthly, 600 quarterly, 1,200 half-yearly, 2,000 yearly.

Not a flexible option despite what they say while trying to sell it

I was told this was a flexible savings scheme.

I lost my job and wanted to get some money out after just 2 years and found out I could not access my money.

Expert assessment of RL360 Paragon Savings Plan

In our opinion, this product is very disappointing.

Paragon is very expensive, inflexible and is easily misrepresented at the point of sale.


We recommend individuals who are directed to FPI by banks or brokers carefully garner the opinions of their peers on forums such a

Anyone considering investing in an RL360 Paragon should read and understand the terms and conditions in great detail.

If you already have the Paragon 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.


RL360 Paragon - Savings and Investments Fund Guide

RL360 Paragon - Plan Terms and Conditions

RL360 Paragon - Key Features

RL360 Paragon - Financial Adviser Fee Form

RL360 Paragon - Top Up Form

RL360 Paragon - Fund Performance Bulletin

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