Elite Account

For when policyholder protection is important

Investing through an Isle of Man provider can offer a UK investor great tax advantages and for some investors, the level of policyholder protection is important. In addition to statutory protection available through the Isle of Man Financial Services Authority, CLI Institutional is a provider structured to provide additional layers of policyholder protection.

The company’s constitutional documents, regulatory licence and operating procedures place constraints on the types of business it can write, and to whom it can issue life assurance policies. This provides a comprehensive and unrivalled level of policyholder protection.

The Elite Account is an open architecture investment bond that offers the ability of appointing a custodian, such as a discretionary investment manager, to manage the underlying assets or the ability to hold the investments on a platform for an appointed fund adviser.

As an investment bond, it offers potential tax efficient growth and the usual range of bond features such as regular withdrawals or ad hoc payments, either through partial surrender or segment surrender.

Click here to view the product related Key Information Document

  • An unrivalled level of policyholder protection through CLI Institutional’s corporate structure.
  • The tax-efficient growth of an investment based on the Isle of Man for a UK resident means that any growth achieved in the Account is not subject to the UK tax regime. Tax may apply when any profit is brought back into the UK.
  • Investors can appoint fund advisers on a discretionary or non-discretionary basis, with fees being paid outside of the 5% withdrawal facility.
  • As a life assurance policy, the individual policies can be gifted to other people without a tax charge.

The Elite Account is an open architecture investment bond offering access to almost any collective investment fund available across the world, with the ability to invest in cash deposits through overseas financial institutions, allowing access to potentially higher interest rates than available in the UK.

A custodian will be appointed to hold the underlying investment on behalf of CLI Institutional.

The value of investments can fall as well as rise.

The Elite Account will appeal to UK-based private wealth and institutional investors where policyholder protection is a key factor and they are looking to hold the investment with discretionary investment managers and investment platforms.

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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.