ROYAL London 360° has won the ‘Best New UK Product’ and ‘Best Estate and Trust Planning Product’ prizes for its Select Discounted Gift Trust (DGT) at the recent International Adviser Awards in London.

Launched in April this year, the DGT, to be used in conjunction with the Select portfolio bond, is designed to reduce the value of an individual’s estate for UK Inheritance Tax (UK IHT) purposes.

Royal London 360°’s Select DGT ‘Access Fund’ is a key differentiator between this, and other products on the market. It allows an investor to set aside a certain proportion of capital (held by the trustees) in order to meet future, unforeseen spending needs.

If the Access Fund is found to be too large or no longer required, this capital can be gifted to the trust fund, increasing the trust value for the intended beneficiaries and further reducing the size of the Settlor’s estate for UK IHT purposes.

It also has the option to defer income, provides an income for the lifetime of the Settlor (or until such time as the trust fund is exhausted) and accepts further transfers after the trust has been created.

Mike Crellin, Royal London 360°’s finance and commercial director, said, “Winning two International Adviser awards so soon after the launch of the Select DGT is a reflection of the emphasis Royal London 360° places on developing the innovative type of products that the market demands and the way in which we listen to what our IFAs tell us they need.”

“I would like to say congratulations to our staff for their achievements, and expect that this is the first of many awards!”