The offer applies only to premiums of £25,000 and over, covering three tiers of charges in total depending on the amount invested.
From £25,000 to £49,999 the establishment charge is now 1%, down from 2%; from £50,000 to £199,000 the charge is 0.75% (1.5%); and for sums of £200,000 or more it is 0.5% (1%).
The figures above only apply to individuals aged 80 or less and the establishment charge can be deducted when the investment is made or deducted in 60 monthly instalments over the first five years. If deducted when the investment is made the allocation rate is reduced by the establishment charge.
Peter Towers, managing director wealth management, Canada Life said the Flexible Investment Bond is now “even more competitive”.
“Onshore bonds are an attractive solution for many investors, offering broad investment choice and tax deferred income options in a straightforward package,” he said.
In July last year, Canada Life launched the second phase of its ican microsite, a website which provides technical support for advisers by giving them direct access to industry specialists.
Launched in November 2011, the website provides technical support for advisers experiencing problems with issues concerning taxation, trusts, estate planning and pensions. The second phase of the launch sees a number of new additions to the web portal.
Advisers can obtain product illustrations online with Avelo and Assureweb or through their account manager and from the Canada Life adviser support team on email: [email protected] or phone: 01707 422927.
To read about how Canada Life priced its offshore bonds more competitively, click here.
