The Wealth Passport – UK Hybrid Policy provides the long-established benefits of a UK life assurance policy together with those of a US deferred variable annuity contract; including simplified reporting, investment flexibility and tax-deferral during the insurance term.
In addition to providing a practical solution to the issues faced by US clients, the hybrid policy also caters to UK residents who, for business or personal reasons, plan to take up residence in the US for a period of time.
Face complex issues
John Hillman, executive chairman of Lombard International, said: “US clients outside the US face a range of complex wealth management issues. Lombard International Assurance is perfectly positioned to offer a unique product in this space, which is backed by our expertise and experience in both jurisdictions.”
Axel Hörger, chief executive, Europe, said: “We are excited to launch this solution which, against a backdrop of growing regulatory complexity, is tailored to meet the specific planning needs of US expats and prospective US residents currently in the UK.”
“US clients outside the US face a range of complex wealth management issues."
Second offering
Lombard International Assurance also recently introduced a solution for the German market called The Wealth Passport – German Hybrid Solution, which combines a German life insurance contract with the US deferred annuity contract.
The solution is available both for US citizens who temporarily live in Germany and for German citizens who intend to temporarily move to the US.
