PIMS, RL360°’s single premium portfolio bond, has been enhanced for 2014 with the addition of a capital redemption variant. The capital redemption version has no lives assured, matures after 99 years and then pays out the surrender value plus a guaranteed GBP 100 (or currency equivalent).
As the bond doesn’t have to end on someone’s death it can be useful in tax planning structures for heirs, corporate and executors.
The PIMS life assurance version remains available but policyholders will not be able to switch between this and the capital redemption version once a policy has been issued.
The introduction of the PIMS capital redemption version follows the introduction of a capital redemption version of RL360°’s regular premium product Quantum earlier this year.
For more information about the CR versions of both PIMS and Quantum, visit the product pages at www.rl360adviser.com
