Sunday 20 May 2018
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RL360° Paragon: a long-term saving solution

RL360° Paragon: a long-term saving solution

RL360° offers a variety of savings and investment products, and you can check out reviews and get further information about the company online. One of its popular products is Paragon. This is a regular savings policy that tends to really come into its own after a decade or so, meaning it is best suited to people who are looking for long-term investments. The product provides clients with access to a wide variety of funds and gives them the flexibility needed to switch between them. If you think Paragon might suit your investment requirements, keep reading to find out more about this innovative product.

Key features

A life assurance policy, you can set Paragon up on the basis of either a single life or a joint life last death. You can also choose between a single policy or, to help maximise the tax efficiency of the product, you can divide it into 100 sub-policies. If you don’t specify, RL360° will automatically choose the latter option for you.

You have the choice of 3 currencies, namely pound sterling, United States dollar and euro, and your policy will be valued and charges deducted in the currency you select. Paragon is an affordable investment option, with minimum premiums of just GBP100 a month. It also gives you considerable scope in terms of funds. You can invest in as many funds as you wish from a variety of investment schemes.

Bringing further flexibility, once your establishment charge period is over and as long as the value of your policy is at least 2 times your annual premium, you have the option of taking a premium holiday of up to 2 years. In addition, you can make regular withdrawals either as fixed sums or a percentage of your fund value.

The importance of seeking financial advice

As with the majority of investment solutions, it is important to get advice from a financial adviser before applying for a Paragon policy. These specialists will be able to provide you with any additional information you require and help you to tailor the product to suit your needs and your approach to risk.

Royal London 360° was formed 8 years ago through the coming together of Scottish Provident International Life Assurance Limited and Scottish Life International Insurance Company Limited. The company changed its name from Royal London 360° to RL360° in November 2013 following the completion of a management-led buyout.