FPI, the Isle of Man-based international investment arm of the Friends Life group, said the new Succession Planning Bond would “appeal to a wide range of clients and will offer a competitive range of investment choices”, by giving investors four ways to potentially reduce their liability to IHT and, at the same time, shape their own and their family’s financial future.
“The Succession Planning Bond is designed to plug a gap that Friends Provident International has identified in the investment market,” said FPI’s UK sales director, Irvine Baxter.
The new FPI bond comes at a time when experts are predicting a boom year in offshore bond sales, as a result of such factors as the UK Government’s decision to cap at £50,000 annually the amount people may contribute to their pensions without incurring tax.
The bonds’ facility for enabling investors to postpone paying tax on income until a time when they are likely to be in a lower tax bracket is also considered an attraction, with the possibility that the £50,000 top rate may be brought down.
| PRODUCT NAME: | Succession Planning Bond |
| COMPANY: | Friends Provident International |
| LAUNCH DATE: | 7 June 2011 |
| AVAILABLE OPTIONS: | (1.) Life cover (whole of life) for up to 10; (2.) Guaranteed maturity value option (capital redemption), guaranteeing min 2X the initial investment, subject to terms |
| AVAILABLE TRUST CHOICES (in both absolute and discretionary versions): |
Loan Trust, Capital Access Trust, Discounted Gift Trust, Gift Trust |
source: FPI
More information on the new Succession Planning Bond is available at www.fpinternational.com.
Friends Provident International has been supplying investment products to the offshore industry for three decades, making it among the longest-established of the international life companies. In addition to the Isle of Man, it maintains offices in Dubai, Hong Kong and Singapore, and employs more than 400 staff globally. Since November 2009 its Surrey-based parent company, Friends Provident, has been part of the Guernsey-based Resolution group.
