Prestige 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 Prestige Account is an open architecture investment bond that offers all the benefits of an investment bond where the provider retains custody of the assets. This is suited for those investors who want to use collectives and cash deposits, plus it also offers the ability to appoint a fund adviser to manage the underlying assets.

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.

  • An unrivalled level of policyholder protection through CLI Institutional 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 Prestige 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.

CLI Institutional will retain custody of the assets and accept investment instructions from the investor or their fund adviser regarding the underlying investments.

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

The Prestige Account will appeal to UK-based private wealth and institutional investors where policyholder protection is a key factor and CLI Institutional will retain custody of the underlying investments.

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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 and regulated by the Financial Conduct Authority.