Joanne was an interior designer and enjoyed her job through which she got to travel and spend a lot of time in Italy where she met Lorenzo, an Italian hotel owner. In time the couple decided they wanted to settle down together in the UK so they returned on a permanent basis and bought a property to become their family home. Children soon came along and Joanne and Lorenzo thought it would be sensible to take out some life insurance cover to protect the children should the worst happen.
Lorenzo’s professional adviser suggested a whole of life proposition would be a suitable protection product but a large number of insurance companies wouldn’t consider Lorenzo with his non-UK national status. The professional adviser recommended Canada Life International’s CanProtect Whole of Life Plan because Canada Life International can cover a number of non-UK national scenarios. Lorenzo and Joanne reviewed the illustration provided by the professional adviser. The illustrated premium was competitive and in a matter of weeks Lorenzo and Joanne had submitted an application, attended their medicals and were on risk for the full sum assured. This allowed the couple to get on with their lives with the peace of mind that their children would have adequate financial provision when they died.
The CanProtect Whole of Life Plan is a suitable protection solution for individuals and couples who have a UK tax liability who may have been born inside or outside of the UK and may also be resident inside or outside of the UK. It is important that individuals take their own professional advice.