Deciding which savings products to go for can be difficult. There are many different options available now, and especially for those who lack experience and expertise in this area, finding the most suitable solution often proves to be a challenge.
One product that can meet the needs of those who want a flexible, regular and affordable savings option is Quantum. Offered by RL360°, this solution can be ideal for people who want to supplement their savings outside of pensions or other similar vehicles. The product gives individuals the chance to accrue money that can be used for substantial expenditures in the future. For example, the money people save through RL360° Quantum can go towards supplementing their retirement incomes or covering school or university fees.
Not a pension
There are important differences between the Quantum product and pensions. Quantum allows people to make withdrawals at any stage following the initial allocation period, so it is far more flexible than pensions. In addition, savers are not obliged to purchase an annuity when their premium term comes to an end.
Added peace of mind
As well as appealing to people who have a specific need to save, Quantum can be attractive to those who simply want to build up a financial safety net. It provides a steady saving routine, enabling people to accumulate significant sums of money over time. Having cash set aside like this can give people added peace of mind. It means they know that if they incur unexpected expenses, they will be able to cover them without getting into financial strife. Whether they are faced with medical bills, property repair charges, sudden loss of income or anything else, they will have a financial cushion in place to help them cope.
RL360° is continually adapting and improving its Quantum product to meet the needs of the market. For example, the firm updated the product in 2012. At the time, its Director of Marketing Natalie Hall said: “Quantum has proved to be exceptionally popular with both IFAs and their clients since it launched in April 2010 thanks to its wide ranging features. However, I expect the new features… to attract an even broader range of investors at the lower premium level.”
The most recent changes to the product were made at the beginning of this year. These upgrades included more user-friendly illustration outputs and enhanced allocation premium bands up to 102%.