Delta Account

Our simple, offshore investment bond

A straightforward, tax-efficient way to invest for the future. This offshore bond is based in the Isle of Man, offering significant tax advantages. You can choose from over 150 Canada Life funds and make regular or ad-hoc withdrawals. For this account, you’ll need to invest at least £3,000.

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Here’s everything you need to know about our Delta Account ­– key features, how it works, helpful links and guides.


To get the Delta Account, you must be aged between 18 and 89 and have at least £3,000 to invest. 


Our Delta Account is a unit-linked investment bond you can open in your sole name or as a joint account. It’s a series of 10 identical policies – giving you flexibility on how you withdraw your money.

You can choose to either cash in all the individual policies or withdraw a small amount from each. Both options have different tax implications, so it’s important to speak to an adviser about which one’s right for you.


Choose up to 10 funds from over 150 available in our Canada Life International offshore life fund range. These funds cover all the main asset classes and regions. The fund selection can be changed, without charge, at any time.                                           

Funds include our popular risk-target managed Portfolio funds alongside more focused funds. This gives you the flexibility to build an investment portfolio to suit your needs and goals.

All our funds have undergone a rigorous selection process to make sure they meet our investment, operational, governance and compliance standards.

What are the risks?

As with any investment, the value can go down as well as up so you might get back less than you invest. Different investments have different levels of risk and past performance is no guide to future performance.

Withdrawing money

All withdrawals are free of charge.

Regular withdrawals

You can set up regular withdrawals every month, every three months, every six months or yearly. The minimum amount you can withdraw is £50. There’s no maximum amount, as long as you keep £2,000 invested.

One-off withdrawals

You can cash in (surrender) part of your investment at any time. The minimum amount you can withdraw is £200. There’s no maximum amount, as long as you leave £2,000 invested.

5% tax-deferred withdrawal allowance

If you pay tax in the UK, you can withdraw up to 5% of your original investment each year without having to pay any immediate tax on it. Payments made to your adviser may be included in this allowance. If you don’t withdraw the full 5%, the remaining allowance can be carried over into the next year. You can do this until you’ve withdrawn 100% of your original investment.

Cashing in

You can cash in your investment in full, at any time. Although you should always speak to an adviser to discuss any tax implications.


Initial set-up charge

This is the charge for setting up the investment. There are two different ways you can pay this charge. We can take:

1. 1% of the original investment as soon as it’s set up

2. A monthly fee for the first five years, based on the amount invested (see table below)

Amount invested

Monthly charge (for 5 years)

Up to £24,999


£25,000 to £49,999


£50,000 or more


Product administration charge

We charge an annual administration charge for looking after the investment.

As the Delta Account is a unit-linked bond, we simply cancel the number of units needed to cover the cost of the charge. See charges and fees

Fund charges

Each fund has an investment management charge, which is incorporated into the amount you pay for the fund. This charge varies from fund to fund. For a full list of fund charges, visit our fund centre.

Paying your adviser

If you want us to pay your adviser, we offer two options:

  • We can deduct the adviser charge from your investment before, or after the money is invested
  • We can pay your adviser on a monthly, quarterly, half-yearly or yearly basis

You can either pay a set amount, or a percentage of the investment’s value.

The charges for our Delta Account depend on how your account is set-up. You’ll find details of the charges on your personal product illustration, which can be sent to your adviser.


Investment growth

We’re based in the Isle of Man, so there’s no tax on the capital growth or income, which our funds generate.

When the account is fully surrendered or cashed in, you may need to pay a charge for UK income tax.

It’s important to remember that the value of your investment can go down as well as up and you may get back less than you invest. The way funds have performed in the past is no guide to future performance.

Inheritance tax

If your bond isn’t in a trust, there may be inheritance tax to pay when you die. By placing your investment in a trust, there may be less inheritance tax to pay, or none at all.

Tax rules for income tax on investment growth and inheritance tax depend on individual circumstances and may change. Speak to an adviser, if you need more information on tax.

Explore our trusts and see how they could help you pass on your wealth in a tax-efficient way.


Trust options

You can use a trust with your Delta Account investment bond. This could reduce the amount of inheritance tax that needs to be paid when you die.

Our Delta Account can be used with the following trusts:

  • Discounted Gift Trust
  • Gift and Loan Trust
  • Gift Trust
  • Probate Trust
  • Excluded Property Trust

Trusts explained. Find out more about the types of trust we offer and how they could help you pass on your wealth in a tax-efficient way.