Do owners and lives assured need to be a UK resident?

For all Premiere Accounts, all policy owners must live in the UK, Channel Islands or the Isle of Man. If the policy owner is a trust, a majority of the trustees must be live in the UK, Channel Islands or the Isle of Man. Unlike policyholders, lives assured don’t necessarily need to live in the UK, Channel Island or Isle of Man. Please talk to your account manager to see whether your client’s country of residence is eligible. We are unable to accept policy owners or lives assured who are US nationals/citizens. The financial advice must have been given by a UK authorised and regulated adviser who has terms of business with us, and the application form must be signed in the UK, Channel Islands or Isle of Man.

How does the VAT treatment of discretionary management fees differ for the two accounts?

For the Premiere Europe Account the Irish Revenue Commissioners have confirmed that discretionary fund management services are not chargeable to VAT under the Value Added Tax Consolidation Act 2010 provided that the assets being managed are classed as a pooled fund portfolio bond and not a highly personalised bond. For the Premiere Account, VAT is usually chargeable on discretionary fund management fees. The exact status of VAT depends on the service being provided and to who – you’ll need to make sure you’re satisfied with the final VAT position. Tax rules depend on individual circumstances and may change.

What’s the difference between life assurance and capital redemption?

You can choose to set up your Premiere account investment bond on a life assurance or capital redemption basis. Life assurance With this type of bond, you can choose to insure the lives of up to six people. The death benefit is paid on the death of the last life assured and the bond is closed. Capital redemption With this option there are no lives assured. Instead, the bond continues for a fixed term of 99 years and, at the end of the term, will pay the higher the value at the time or a guaranteed maturity value. Both versions can be surrendered at any time.

What is the maturity value on the capital redemption option?

The capital redemption option has a fixed term of 99 years and will pay out a guaranteed maturity value at the end of the term (unless it has been surrendered). There are two maturity value options: <ul> <li>The maturity value is 130% of the initial premium, but if you choose this option you’ll only be able to invest in the CLI Sterling Money fund. If the full surrender value on the maturity date is more than 130% of the initial premium, we will pay the higher amount.</li> <li>The maturity value is 20% of the initial premium. If you choose this option, you can enjoy our full range of investment options. If the full surrender value on the maturity date is greater than 20% of the initial premium, we will pay the higher amount.</li> </ul>

Can I pay regular amounts into a Premiere account?

Yes, you can make regular payments into both accounts. You can make payments (repeat top-ups) of at least £2,500 monthly or yearly.

Premiere and Premiere Europe Accounts

Our most flexible international investment bonds

A flexible, tax-efficient way to build up savings. There’s no limit to the amount you can invest and you can make extra payments as and when you like. This account could be ideal for anyone who’s already used up their ISA or pension allowance or who wants to invest in a tax-efficient way. For this account, you’ll need to invest at least £50,000.

All the documents you need for our Premiere Account and Premiere Europe Account. Documents are relevant to both accounts, unless labelled otherwise.

Key documents

Adviser guides

Client guide

Premiere Account and Premiere Europe Account Client Guide

Guide to Anti Money Laundering

Guide to anti-money laundering and preventing the financing of terrorism

Application form

Charges and fees

CLI and CLIAI Charges and Fees Document

Key features

Key Information Document

Premiere Europe Discounted Gift Trust Account Key Information Document

Suitability letter

Terms and conditions

Adviser support

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View a selection of tools

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Webinars

Join our rolling programme of webinars to keep up with the latest industry developments and news.

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Meet the ican team

Award winning pre-sales technical help & guidance.

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Briefing notes

Short guides on a variety of topics that explain and simplify some of the key areas of financial planning.

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Funds

Our most flexible account gives you the greatest choice of investment options.

Funds

Access an almost unlimited range of investment funds. With thousands of funds available you can tailor your client’s portfolio to meet their specific needs and goals.Our governance team are on-hand to check that your investment choices meet our acceptance guidelines. We’ll generally accept authorised unit trusts, approved investment trusts, OEICs, REITs and non-UK authorised collective investment schemes. Hedge funds will be considered on an individual basis.

Cash deposits

We offer a range of instant access and fixed-term deposit accounts from a wide selection of banks and building societies.

See our latest cash deposit rates.

Platforms

We have agreements with a wide range of platforms to provide fund administration, custody and execution-only services. You can manage all, or part of the investment bond assets through each platform. For extra flexibility, you can also spread the investment across multiple platforms.

See our list of platforms.

Discretionary fund managers

You can appoint a discretionary manager to advise and make investment decisions on your client’s behalf. We have relationships with a wide range of discretionary managers, as well as many boutique and specialist firms. For extra flexibility you can spread the investment across multiple discretionary managers.

See discretionary fund managers.

Segregated Portfolio Service

Our Premiere accounts give you the option to use our Segregated Portfolio Service providing your clients with a wider range of investment opportunities. This service provides access to equities and gilts, so you can benefit from the investment manager’s stock selection expertise.

This service is only available through an investment manager that we have an agreement with.

Explore our Segregated Portfolio Service.

Frequently asked questions

For all Premiere Accounts, all policy owners must live in the UK, Channel Islands or the Isle of Man. If the policy owner is a trust, a majority of the trustees must be live in the UK, Channel Islands or the Isle of Man.

Unlike policyholders, lives assured don’t necessarily need to live in the UK, Channel Island or Isle of Man. Please talk to your account manager to see whether your client’s country of residence is eligible.

We are unable to accept policy owners or lives assured who are US nationals/citizens.

The financial advice must have been given by a UK authorised and regulated adviser who has terms of business with us, and the application form must be signed in the UK, Channel Islands or Isle of Man.
For the Premiere Europe Account the Irish Revenue Commissioners have confirmed that discretionary fund management services are not chargeable to VAT under the Value Added Tax Consolidation Act 2010 provided that the assets being managed are classed as a pooled fund portfolio bond and not a highly personalised bond.

For the Premiere Account, VAT is usually chargeable on discretionary fund management fees. The exact status of VAT depends on the service being provided and to who – you’ll need to make sure you’re satisfied with the final VAT position.

Tax rules depend on individual circumstances and may change.
You can choose to set up your Premiere account investment bond on a life assurance or capital redemption basis.

Life assurance

With this type of bond, you can choose to insure the lives of up to six people. The death benefit is paid on the death of the last life assured and the bond is closed.

Capital redemption

With this option there are no lives assured. Instead, the bond continues for a fixed term of 99 years and, at the end of the term, will pay the higher the value at the time or a guaranteed maturity value.

Both versions can be surrendered at any time.
The capital redemption option has a fixed term of 99 years and will pay out a guaranteed maturity value at the end of the term (unless it has been surrendered). There are two maturity value options:
- The maturity value is 130% of the initial premium, but if you choose this option you’ll only be able to invest in the CLI Sterling Money fund. If the full surrender value on the maturity date is more than 130% of the initial premium, we will pay the higher amount.
- The maturity value is 20% of the initial premium. If you choose this option, you can enjoy our full range of investment options. If the full surrender value on the maturity date is greater than 20% of the initial premium, we will pay the higher amount.

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Key documents

Support guides

Adviser guides

Client guide

Guide to Anti Money Laundering

Opening an account

Application form

Charges and fees

Key features

Key Information Document

Suitability letter

Terms and conditions

Managing an existing account

Surrender and withdrawal form

Investment dealing form

Deed of assignment

Top-up form

Additional Application for Personal Customers (Including personal Trustees)

Adviser support

I want to...

Login to Adviser Connect

Adviser learning zone

Webinars

Meet the ican team

Briefing notes

Funds

Funds

Cash deposits

Platforms

Discretionary fund managers

Segregated Portfolio Service

Frequently asked questions

Do owners and lives assured need to be a UK resident?

How does the VAT treatment of discretionary management fees differ for the two accounts?

What’s the difference between life assurance and capital redemption?

What is the maturity value on the capital redemption option?

Can I pay regular amounts into a Premiere account?

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