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Select Account - Select Account DGT

The Select Account is all about transparency, simplicity and flexibility – an investment that is easy to understand and which can adapt, over time, to changing goals and objectives.

The Discounted Gift Trust option under the Select Account allows your clients to invest a lump sum of money and to receive regular payments from the trust. These payments can be made monthly, quarterly, half-yearly or yearly depending on the client’s requirements. As these payments utilise the tax deferred withdrawal facility from an investment bond, there is usually no immediate tax liability.

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Select Account

Select Account DGT

  Select Account Select Account DGT
Benefits
  • The Account offers a simple, transparent charging structure.
  • It is set-up as a series of identical policies, providing flexibility when your clients want to take money from the investment.
  • The underlying fund selection can be changed, without charge, at any time.
  • A comprehensive phased investment facility is available allowing money to be moved between different investment funds over a required period of time.
  • In addition to withdrawals being available every month, quarter, half-yearly or yearly they are also available on a termly basis to help with school fees planning.
  • As a life assurance policy, the individual policies can be gifted to other people without a tax charge.
  • The Account offers a simple, transparent charging structure.
  • The potential inheritance tax payable on death can be reduced immediately, with a further reduction after the client has survived seven years from the original investment.
  • There is unlimited free switching between the funds available allowing you and your client to restructure the investment as required.
  • After death, the value of the trust will be available. Depending on the type of trust used, the trustees can pay these funds out to the chosen beneficiaries or maintain the trust and pay out benefits as and when they choose.
  • A comprehensive phased investment facility is available allowing money to be moved between different investment funds over a required period of time.
Suitability The CanInvest Select Account offers a simple and straightforward, tax-efficient investment solution for those looking to invest a lump sum and who may have already funded ISAs to the annual maximum. The Select Account Discounted Gift Trust will appeal to UK investors who want to combine a simple tax-efficient investment and reduce the inheritance tax liability on their estate whilst receiving regular payments to supplement their income.
Investment choices The Select Account and Select Account DGT allows you to provide your client with an investment solution tailored to their objectives, both now and in the future. Our investment solution has been achieved through our rigorous fund selection and governance process; drilling down through thousands of funds that are available today – refining the options into a high quality range, allowing you and your client to select suitable investments.
Risks to consider The value of investments can fall as well as rise.

Related Documents


View out related documents to find out more.

Seven year recycling

 

Wednesday 31 October | Time: 11:00am - 11:45am

When considering estate planning, it pays to remember that any gifts fall outside the IHT calculation after seven years. In effect, a client can recycle their nil rate band and over a longer period of time significant amounts of money can be moved out of an estate.

 

The LF Canlife Managed 0%-35% Fund

The LF Canlife Managed 0%-35% Fund, available under the Select Account and Select Account Discounted Gift Trust, seeks to provide long-term capital growth and income through a diversified portfolio of UK income-generating assets. With in-house expertise, we have the power to select the best assets to deliver income or growth, proven by our five and ten year strong track records.
Moneyfacts 2017 defaqto Gold 2018 defaqto 2018 FA 2017

 

Find out more about the Select Account and Select Account Discounted Gift Trust.


Where next for investing? Join the debate with Tony Wickenden at our autumn roadshows

"William wants to gift money to his grandchildren to get them on the property ladder, and they want to make payments when they can to prevent interest rolling up"
William
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United Kingdom
0345 606 0708

International
01624 820200

United Kingdom
customer.services@canadalife.co.uk

International (Isle of Man)
focus@canadalifeint.com

International (Dublin)
distributionsupport@canadalifeint.ie

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.

Stonehaven UK Limited and MGM Advantage Life Limited, trading as Canada Life, are subsidiaries of The Canada Life Group (U.K.) Limited. Stonehaven UK Ltd is authorised and regulated by the Financial Conduct Authority. MGM Advantage Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority.