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CanProtect Whole of Life Plan

Whole of life cover for high-net-worth and ultra-high-net-worth individuals

The CanProtect Whole of Life Plan provides cover for high-net-worth and ultra-high-net-worth individuals. It is a practical solution for individuals who may be ‘asset rich but cash poor’ and are looking for a sum assured of £1 million pounds or greater.

 

The Plan offers life cover for individuals who are:

  • resident and domiciled in the UK, Channel Islands or the Isle of Man.
  • resident but not domiciled in the UK, Channel Islands or the Isle of Man.
  • domiciled but not resident in the UK, Channel Islands or the Isle of Man.
  • non-resident and non-domiciled individuals who have a UK tax liability to cover.

The CanProtect Whole of Life Plan can be tailored to your clients’ needs:

  • Single life, joint life first death or joint life last survivor basis.
  • Large sums assured; the minimum is £1 million. The maximum level of cover will depend on a number of factors such as age and country of residence.
  • Your clients can choose to place their policy within one of our range of free to use trusts. This allows the client to choose who will receive the cash sum payment(s) from their policy.

Your clients can increase the sum assured if:

  • The value of their estate increases which results in an increased inheritance tax (IHT) liability.
  • The UK Government changes the IHT rates or bands which increases their prospective IHT liability.

The value of investments can fall as well as rise and you should speak to a professional adviser to ensure that any investment is suitable for you.

We will notify your client and you if premiums cease. Cover will cease if premiums remain unpaid for 60 days.

The CanProtect Whole of Life Plan will appeal to clients looking to provide a lump sum for their family on death and will typically have a UK inheritance tax liability of £1 million or greater. The plan can provide cover for individuals with a range of different residency and domicile statuses.

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CanProtect Whole of Life Plan

CanProtect Whole of Life Plan 

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Domiciled in Isle of Man
Contact by phone

Contact us to find out more

International
01624 820200

International
focus@canadalifeint.com

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This website is for UK professional advisers only and is not approved for use by private customers.

Canada Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Canada Life International Limited and CLI Institutional Limited are Isle of Man registered companies authorised and regulated by the Isle of Man Financial Services Authority.

Canada Life International Assurance (Ireland) DAC is authorised and regulated by the Central Bank of Ireland.