An exciting new offshore product from Legal & General International
| Full product details (PDF) can be downloaded here. | ||||||||||||||
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| Product type | The Legal & General International Portfolio Bond is a single premium whole of life investment bond with no fixed term. It provides a framework for investing in a choice of Assets over the medium to long term, that is, at least five years, ideally longer.
The bond comprises a series of identical policies to give the policyholder a choice as to how to take money from the bond and to potentially increase its tax efficiency. |
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| Availability | Available to UK resident investors only. Investors may be: • Personal investors • Trustees of existing or new trusts. Available on a single life assured or on a multiple lives assured last survivor basis. If you become resident in Ireland your Bond will become subject to tax in Ireland. The Bond is not available if you are a citizen or resident of the United States of America. |
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| Currency | Payment can be made into the bond only in GB Pounds. | |||||||||||||
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| Applicant’s age limits | 18 attained | |||||||||||||
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| Life assured/lives assured age limits | Single life: Age 0 - 89 attained Multiple lives: At least one life must be aged 89 or under. Available for two to six lives. |
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| Minimum investment | £50,000 initial investment Minimum initial investment in each investment fund is £2,500, or the minimum allowed by the investment manager, whichever is the greater. £2,500 minimum increment, or the minimum allowed by the investment manager, whichever is the greater. Bond can be set up by transferring Assets, minimum investment is £100,000. |
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| Maximum investment | No maximum | |||||||||||||
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| Method of payment | Payment can be made by verified cheque, CHAPS/telegraphic transfer or transfer of assets. Investments (excluding transfers of assets) in excess of £750,000 must be made via CHAPS/telegraphic transfer. |
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| Number of policies | A choice of between 1 and 500 policies. 100 policies will be issued if the required number of policies is not specified. | |||||||||||||
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| Death benefit | 100.1% of the surrender value of the bond. | |||||||||||||
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| Investment availability | Over 1000 funds from more than 60 fund managers on Cofunds. Investment is available into a wide and diverse range of assets provided by Cofunds through their investment platform. |
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| Transaction Account and Cofunds Trading Account | Some of the assets contained within the bond will be in the bond transaction
account. The transaction account will be used to make the majority of payments
to and from the bond, including payment of charges and receipt of rebates from
investment fund managers. Cofunds operate a Trading Account as part of its investment platform to manage the proceeds of investment transactions and investment income in the form of dividends and interest payments from distributing funds. |
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| Investment variation | Assets can be varied at any time. Dealing charges are not currently applied, but we reserve the right to apply them in the future. |
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| Minimum regular withdrawal |
£200 per month; or £600 per quarter; or £1200 per half year; or £2,400 annually. | |
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| Maximum regular withdrawal |
A minimum surrender charge free allowance operates each year up to 7.5% of the
initial investment. Regular withdrawal amounts in excess of the allowance may incur a surrender charge depending upon the amount requested and the charging structure selected
There is no maximum annual regular withdrawal limit for charging structure one. The maximum annual regular withdrawal limit for charging structure two is 7.5% of the amount originally invested. |
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| Withdrawal amount | The amount per year can be a percentage of the amount invested; or a fixed amount. | |
| Non regular withdrawals | Full or partial withdrawals from the bond can be made at any time but may incur a surrender charge depending upon the charging structure selected. |
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| Asset information | The choice of investments types that can be held within the bond is subject to the following permissible asset rules, but the range of assets available under the bond is limited to those available from the Cofunds Investment Platform. | |