A 49-year-old British female expat working in the Middle East aiming to retire at 60 and wanting to protect her young daughter.
She had a new job with the ability to save a high amount of her annual tax-free salary. She planners to work for 5 more years and then review her options.
The client's adviser chose the Capital for Life Income for Life Growth Strategy as the best solution to solve the client's needs.
Key Planning Points
- Retirement income at 60
- Invest in stock market growth but with no potential for losses.
- Capital protection and guarantees lowered the investment risk across her investment portfolio.
- Tax free growth.
- Protect and provide for her young daughter in case of her own premature death with a lump sum death benefit.
The client was delighted with the proposal from her independent financial adviser. She invested $340,000 a year for 5 years into the Income for Life strategy.
At age 60 the client can draw $85,000 a year from the policy to provide a retirement income.
In addition, the life policy gives her $5.1m of life cover to provide for her daughter.
The lump sum cash pay out will provide school fees, maintenance and a house deposit if her mother passes away early.
The policy was put in trust for the daughter's benefit and to protect the death benefit from UK inheritance tax.
The advisers client had never considered using life insurance previously for retirement planning. She was also happy with the cover the plan provided for her daughter. Meanwhile, the adviser was able to de-risk her investment portfolio and put in place protection and estate planning at the same time with the help of Capital for Life.
If you are a professional adviser contact us at firstname.lastname@example.org and see how we can help you protect and provide for your high net worth clients with our comprehensive range of international life insurance solutions.