Hi All,
I recently investigated starting a pension plan from Dubai.
The proposed pension fund is with RL360, based in the Isle of Man. The proposed term is 24 years.
- The key features including fees are here: http://www.rl360.com/generic/downloads/qu004.pdf
- The brochure is here: [broken link removed]
Some key points:
- There is an initial allocation period of 24 months. The committed premium must be paid each month for those 24 months, or the entire sum is forfeit.
- They give you bonuses along the way. For example, if you commit to 1000 euros each month for the first 24 months, when you make the initial deposit of 1000 euros in the first month, they give you 450% of 1000 euros as a bonus (so you would then have 5500 after one month, rather than the 1000 you put in)
- After 24 months, you can reduce the premium (or increase it).
- You can make ad-hoc lump sum payments.
It's a whole of life insurance policy
- You can withdraw at any time with penalties during the term, or any time after the term without penalties.
Figures are given for projected growth rates of 4%, 6%, 8%.
- There are over 100 funds to choose from and you can change these when you like
If a fund fails, you lose the money rather than RL360.
EDITED FOR FEES:
The fees are like this:
Would appreciate your opinions!
I recently investigated starting a pension plan from Dubai.
The proposed pension fund is with RL360, based in the Isle of Man. The proposed term is 24 years.
- The key features including fees are here: http://www.rl360.com/generic/downloads/qu004.pdf
- The brochure is here: [broken link removed]
Some key points:
- There is an initial allocation period of 24 months. The committed premium must be paid each month for those 24 months, or the entire sum is forfeit.
- They give you bonuses along the way. For example, if you commit to 1000 euros each month for the first 24 months, when you make the initial deposit of 1000 euros in the first month, they give you 450% of 1000 euros as a bonus (so you would then have 5500 after one month, rather than the 1000 you put in)
- After 24 months, you can reduce the premium (or increase it).
- You can make ad-hoc lump sum payments.
It's a whole of life insurance policy
- You can withdraw at any time with penalties during the term, or any time after the term without penalties.
Figures are given for projected growth rates of 4%, 6%, 8%.
- There are over 100 funds to choose from and you can change these when you like
If a fund fails, you lose the money rather than RL360.
EDITED FOR FEES:
The fees are like this:
- Initial unit charge of 6% per year, to be taken throughout the premium term.
- Contract charge of 0.125% per month
- Policy fee 8 dollars per month
- Annual fund management fee (.5%)
- Financial advisor charge 0.125% per calendar quarter
Would appreciate your opinions!