Single Premium Investment Bonds
Discussion
Hi,
Anyone have any experience of these? Pru and Canada Life offer them (among others).
The idea is that you wrap investments in a life insurance policy either onshore or offshore (Isle of Man / Gib / Guernsey) to supplement government tax allowances (ISA and pension). I already use my ISA and pension and am looking to invest for the long term (15+ years) so was wondering whether the potential tax benefits could outweigh what look to be pretty hefty fees.
It's not even clear to me how you would go about buying this stuff.
Looks like you can't go direct so would have to pay a layer of advisor costs (+ time & hassle).
Cheers.
Anyone have any experience of these? Pru and Canada Life offer them (among others).
The idea is that you wrap investments in a life insurance policy either onshore or offshore (Isle of Man / Gib / Guernsey) to supplement government tax allowances (ISA and pension). I already use my ISA and pension and am looking to invest for the long term (15+ years) so was wondering whether the potential tax benefits could outweigh what look to be pretty hefty fees.
It's not even clear to me how you would go about buying this stuff.
Looks like you can't go direct so would have to pay a layer of advisor costs (+ time & hassle).
Cheers.
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