July 12, 2018
Many high-net-worth individuals (HNWI) are concerned about protecting and prolonging their wealth for their loved ones. Our research conveys that 68% of European HNWIs view life assurance as means of safeguarding financial security for their family.
Our case study illustrates how life assurance is not only a tax efficient investment tool, but also an effective inheritance planning solution. When Pedro and Maria Ferreira officially retire, they intend to move back to Portugal to enjoy a better climate and a lower cost of living. The Ferreira’s have two children, Filipe who lives in Lisbon and Manuela who resides in Paris with her husband. For the Ferreira’s, a durable solution with a comprehensive succession plan is imperative. Therefore, drafting the beneficiary clause in a life assurance contract is of utmost importance; as it will ensure Filipe and Manuela receive an inheritance.
Pedro and Maria are looking to take things easier. Whilst they enjoy their retirement, they want peace of mind that their financial affairs are being well managed, will allow them to maintain their lifestyle in their new country of residence, Portugal, and know that their children are well-protected when it comes to passing on their wealth to the next generation. Their decision to use a Luxembourg life assurance policy as a wealth planning and inheritance tool safeguards their wealth for now and for future generations.
To know more about how life assurance can create a customised wealth transfer and inheritance structure, download our e-book => here !
Source: OneLife & Scorpio Partnership