Canada Life International's wealth preservation account launched

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Canada Life International's wealth preservation account launched

Thu 2nd Nov 2006

Canada Life International's wealth preservation account has been introduced to the inheritance tax (IHT) mitigation market.

The new product has been launched to allow customers the opportunity to make a gift of capital and then ensuring that there is periodic access to the funds if necessary.

Canada Life International's wealth preservation account is made up of several single premium life assurance policies until the date of their maturity.

Tony Parry, managing director at Canada Life International, remarked: "The wealth preservation account gives the individual the ability to gift assets away but continue to have access to the capital should circumstances change – an individual may have hefty nursing home care to fund or want to protect family wealth for their children if there is a relationship breakdown."

Mr Parry went on to highlight the fact that the new account – which requires a minimum investment of £50,000 – provides customers with a degree of flexibility that is "just not available with most other products".

Established in 1987, Canada Life International is based on the Isle of Man and at the end of last year had assets under administration of £3.3 billion.

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