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THE BENEFICIARY TRUST TRUST RANGE This deed is (RL360)

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1
This deed is provided as a draft
to be considered by you and
your professional adviser. We can
accept no responsibility for the tax
or any other consequences arising
out of you executing this deed, or
for ensuring that the deed meets
with your requirements.
This form should be completed if
you are the owner(s) of a RL360
plan and want the benefits to go to
one or more adults and/or children
as beneficiaries in the event of
your death.
This form invalidates all previous
beneficiary designations therefore
it is important that it includes all
details of all the persons whom you
wish to benefit.
You cannot use this form if you
wish to create a gift for UK
Inheritance Tax purposes.
If you cannot enter the details
asked for in the space available,
please make a note on the form
and attach a page containing
those details.
This trust comes into eect upon
the death of the Relevant Person.
The plan benefits are then payable
to the trustees for the benefit of the
beneficiaries in accordance with
the provisions in Part C of this form.
At such time as this trust comes
into eect it may be necessary for
RL360 to obtain the appropriate
identification documentation in
respect of the trustees and any
beneficiary to whom benefits are to
be paid.
The plan owner(s) and the trustees
must sign this form at Part D.
NOTES
Under Tax Regulations and
intergovernmental agreements
entered into by the Isle of Man in
relation to the automatic exchange
of information for tax matters
(collectively “AEOI”), RL360 is
required to collect information
about each Settlor, Trustee and
Named Beneficiaries of trusts.
(Where any of the Named
Beneficiaries are minors, this will
be required once they reach 18
years old.)
RL360 will provide the information
directly to the Isle of Man Income
Tax Division (IOMITD) who may
then provide the same information
to the relevant jurisdiction. RL360
does not send any information
direct to other jurisdictions.
Specified US Person means a US
citizen or tax resident individual
who has a US residential/
correspondence address or who
either holds a US Passport, a US
Green Card or who was born in the
US and has not yet renounced their
US citizenship.
More information on US FATCA
can be found at:
www.irs.gov/Businesses/
Corporations/Foreign-Account-
Tax-Compliance-Act-FATCA.
If you choose Yes to being a
Specified US Person, you will need
to provide us with your US Taxpayer
Identification Number (TIN) or US
Social Security Number (SSN).
If you choose No but you have a
US residential/correspondence
address, hold a US Passport, a US
Green Card or you were born in
the US, you will need to provide us
with documentary evidence that
you are in the process of or have
renounced your US Citizenship.
RL360 can accept a certified copy
of your DS-4083 form (also known
as CLN – Certificate of Loss of
Nationality) and/or a certified copy
of your passport in which you are
obtaining new citizenship.
INHERITANCE LAWS AND
BENEFICIARY DESIGNATION
Some countries have laws
governing the distribution of a
person’s estate on their death.
Although the beneficiary trust
technically removes the benefits
of the plan from your estate, this
could be challenged. The legal
basis for such a challenge would
be that the rights of heirs may be
placed above individual rights to
pass on assets on trust to other
parties. Authorities responsible for
judgements in such cases may use
discretion and uphold your wishes
(as expressed by using this form).
However, to avoid any doubt, you
should seek advice in choosing an
appropriate course of action.
CHANGES TO BENEFICIARIES
Completing a subsequent form
can change those named as
beneficiaries in this form.
THE RELEVANT PERSON
The plan owner, or where there
are joint plan owners, the last
surviving plan owner. Where there
are joint plan owners, the terms of
this document will have no eect
unless both owners are deceased.
THE BENEFICIARY
TRUST
TRUST RANGE
2
RELEVANT EVENT
The death of the Relevant Person(s).
TRUSTEES
Trustees must be appointed to act after your death and give instructions concerning the plan or any benefits arising from it.
RL360 Insurance Company Limited (RL360) cannot be responsible for any actions or omissions by those trustees.
TRUST FUND
The plan benefits of the plan detailed in Part A of this trust deed.
INTERPRETATION
RL360 will carry out the instructions given by you as plan owner(s). It cannot be held responsible for any misunderstanding
made when the form was completed or any changes in circumstances aecting who should benefit from the plan. If any
challenges are made to the validity of payments made under your instructions in this form, they must be addressed to the
recipients of any benefits.
ASSIGNMENTS
If you assign the plan specified in this form as security or collateral to a financial body (such as a bank), that assignment will take
priority over beneficiaries’ claim to any benefits designated here.
BENEFITS WHERE NO BENEFICIARY SURVIVES
If no beneficiaries are alive at such time as any benefits become payable, all benefits will pass to the estate of the plan owner or
where there are joint plan owners, to the estate of the last surviving plan owner.
PART A
(i) Plan details
Plan number
Or Application dated
(the plan)
(if no plan number has yet been issued)
Plan owner (Relevant Person) Joint plan owner (Relevant Person)
Full name
Date of birth (dd/mm/yyyy)
Country of birth
Country of residence
for
tax purposes
Tax Identification Number (TIN)
If unavailable, provide a functional equivalent (eg National Insurance Number, Social Security Number, resident registration number)
Are you a Specified
Yes
No
Yes
No
US person?
If you tick “Yes”, please confirm
your US TIN or SSN.
The definition of a Specified US Person can be found in the Notes section on Page 1.
3
PART A CONTINUED
(ii) Declaration of Trust and appointment of trustees
As owner(s) of the plan detailed in Part A, I/We appoint:
Trustee 1 Trustee 2
Title (please tick)
Mr
Mrs
Miss
Mr
Mrs
Miss
Other (in full) Other (in full)
Full name
Current residential
address and postcode
(in full)
Date of birth (dd/mm/yyyy)
Country of birth
Country of residence
for
tax purposes
Tax Identification Number (TIN)
If unavailable, provide a functional equivalent (eg National Insurance Number, Social Security Number, resident registration number)
Are you a Specified
Yes
No
Yes
No
US person?
If you tick “Yes”, please confirm
your US TIN or SSN.
The definition of a Specified US Person can be found in the Notes section on Page 1.
Trustee 3 Trustee 4
Title (please tick)
Mr
Mrs
Miss
Mr
Mrs
Miss
Other (in full) Other (in full)
Full name
Current residential
address and postcode
(in full)
Date of birth (dd/mm/yyyy)
Country of birth
Country of residence
for
tax purposes
Tax Identification Number (TIN)
If unavailable, provide a functional equivalent (eg National Insurance Number, Social Security Number, resident registration number)
Are you a Specified
Yes
No
Yes
No
US person?
If you tick “Yes”, please confirm
your US TIN or SSN.
The definition of a Specified US Person can be found in the Notes section on Page 1.
to act as trustee(s) under the plan terms and conditions to hold all plan benefits on my death on trust as follows:
(iii) For the beneficiaries named in Part B(I) of this document or the contingent named beneficiaries persons in B(ii) in the event
that none of the named beneficiaries are alive at the time of the relevant event together with such classes of persons named in
the Schedule at such time and in such shares as the trustees shall see fit.
4
PART B
i) The Named Beneficiaries and the Appropriate Shares
The Named Beneficiaries and the Appropriate Shares means:
Beneficiary 1 Beneficiary 2
Full name
Residential address
Date of birth (dd/mm/yyyy)
Appropriate Share
%
%
Beneficiary 3 Beneficiary 4
Full name
Residential address
Date of birth (dd/mm/yyyy)
Appropriate Share
%
%
The death of a Named Beneficiary under Part B (i) will increase the shares of the remaining beneficiaries.
(ii) Contingent Named Beneficiaries and the Appropriate Shares means;
Beneficiary 1 Beneficiary 2
Full name
Residential address
Date of birth (dd/mm/yyyy)
Appropriate Share
%
%
The death of a Named Contingent Beneficiary under Part B (ii) will increase the shares of the remaining Named Contingent
Beneficiaries.
5
iii) Schedule
Any child, grandchild or remoter issue of the Relevant Person
Any brother, sister or parent of the Relevant Person
Any surviving spouse/civil partner of the Relevant Person
Any person or class of persons identified here (please insert full name(s) and address(es))
Children, grandchildren and issue of any person
References to children, grandchildren and the issue of any person shall include children, grandchildren and remoter issue
whether legitimate, illegitimate or adopted
Civil partner, former civil partner and surviving civil partner of any person
References to a person’s civil partner are to that person’s civil partner within the meaning of the Civil Partnership Act 2004;
references to a person’s former civil partner are to a person who was that person’s civil partner until their civil partnership
was dissolved or annulled; and references to a person’s surviving civil partner are to a person who was that person’s civil
partner immediately before that person’s death.
PART C
Trust Provisions
1. The trustees for the time being of these trusts shall have the following powers:
(i) to make any kind of investment that they could make if they were absolutely entitled to the Trust Fund
(ii) to apply the whole or such part as the trustees in their absolute discretion shall think fit of the income and capital
held on trust for any beneficiary whose interest shall not have vested for or towards the maintenance, education
advancement or benefit of such beneficiary and the trustees may exercise such powers whether or not there is any
other fund or income available for any such purposes or whether or not there is any person bound by law to provide
such maintenance or education
(iii) to accept as a good and sucient discharge the receipt given by any such beneficiary who shall have attained the age
of 18 years or any parent or guardian of any minor beneficiary in respect of the payment of capital or income paid or
applied for the benefit of such beneficiary on the trustees first obtaining an undertaking from such parent or guardian
so to apply such capital or income
(iv) during the minority of any beneficiary under these trusts to accumulate any surplus income held on trust for such
beneficiary and invest the same in accordance with paragraph (i) above and any such accumulation shall be added to
the fund or share from which it was derived and shall devolve with such fund or share but the trustees may at any time
apply any or all of such accumulations for any of the purposes permitted by these trusts as if it were income arising in
the then current year
2. Any trustee of these trusts who is engaged in any profession or business shall be entitled to charge and be paid all
professional or business charges for business done by him or his firm in connection with these trusts including business
which a trustee not being engaged in such profession or business could have done personally.
3. Any corporate trustee may be appointed as trustee of these trusts and the general terms and conditions upon which it acts
as a trustee last published before the date of this designation form shall apply to these trusts and it shall be entitled to retain
remuneration in accordance with the scale and other fees usually charged at that date for its services in acting as a trustee of
these trusts with power to retain and be paid remuneration in accordance with the scale and other fees published by it from
time to time for such services.
4. No trustee of these trusts shall be liable for any loss arising by reason of any investment made in good faith or for the default,
negligence or fraud of any agent employed by him or by any other trustee whether or not the employment of such agent was
strictly necessary or expedient or by reason of any mistake or omission made in good faith by any trustee or by reason of any
other matter or thing except wilful fraud or intentional wrongdoing on the part of the trustee who is sought to be made liable.
5. The perpetuity period applicable to these trusts shall be the period from the date of the designation form until the expiration
of 21 years from the date of the Relevant Event.
6. This Trust Deed shall be governed by and construed according to the laws of the Isle of Man.
6
PART D
Signed by the plan owner(s) and the appointed trustee(s) to show their acceptance of their duties under this trust:
Plan owner Joint plan owner (if applicable)
Full name
Signature
Witnessed by:
Any witness must be over 18 years old and not party to the trust.
Full name
Residential
address
Date (dd/mm/yyyy)
Witness’s signature
Trustee 1 Trustee 2
Full name
Signature
Witness
Full name
Residential
address
Signature
Trustee 3 Trustee 4
Full name
Signature
Witness
Full name
Residential
address
Signature
7
PART D CONTINUED
OR in the case of a corporate trustee:
Executed as a deed by
Name of company
Authorised Signatory 1 Authorised Signatory 2
Full name
Signature
DATA PROTECTION
This form collects your personal data. We require your personal data so we can provide you with services relating to the
performance of your contract. You may ask us to stop processing your data, however this may disrupt the services RL360 can
provide to you or may stop us being able to assist you. To find out how long we will keep your data, please refer to our privacy
policy at www.rl360.com/privacy. Any data you provide to RL360 may be shared, if allowed by law, with other companies both
inside and outside of RL360 and to persons who act on your behalf. Data and information about you can be transferred outside
of the Isle of Man and RL360 may be required to provide it to its regulator, its government or anyone else required by law.
RL360 will use your data and information to allow for the administration of your plan, prevent crime, prosecute criminals and for
market research and statistics. RL360 will, at all times, make sure that your data and information is only used in ways that are
allowed by law.
You can receive a copy of the information RL360 holds about you free of charge by writing to our Data Protection Ocer at:
RL360, International House, Cooil Road, Douglas, Isle of Man, IM2 2SP, British Isles, or by emailing dpo@rl360.com. We can reserve
the right to not send you your personal data in some circumstances - if we do we will write to you setting out the reasons why.
Our full privacy and cookie policies can be viewed at www.rl360.com/privacy or can be obtained by requesting a copy from our
Data Protection Ocer.
TRU033o 02/21
RL360 Insurance Company Limited. Registered Oce: International House, Cooil Road, Douglas,
Isle of Man, IM2 2SP, British Isles. Registered in the Isle of Man number 053002C. RL360
Insurance Company Limited is authorised by the Isle of Man Financial Services Authority.
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THE BENEFICIARY TRUST TRUST RANGE This deed is (RL360)

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Completed 21 June 2021

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