Lombard Launches High Net Worth Life Plan & Assets Management Product

Lombard International Assurance, a global leader in wealth planning solutions for high net worth individuals and institutions, has announced the launch of the International Life Plan. This sophisticated protection solution offers High Net Worth Individuals (HNWIs) the ability to protect and preserve key parts of their personal, family and business legacies, by providing liquidity to meet estate planning needs.

Families are increasingly looking to protect against the associated risks of longer term succession planning, especially where family assets are held in multiple jurisdictions. For example, the UK recently introduced legislation that brings both directly and indirectly held residential property within the scope of inheritance tax (IHT) for non-domiciled individuals, whether they are UK resident or not. Additionally, following the German Inheritance Tax Reform of 2016, a growing number of German family owned businesses (German Mittelstand) are exposed to IHT, which could cause disruption following the death of the principle. In worst case scenarios the family owned business may have to be sold in order to cover IHT. As a result of these growing fiscal obligations, a growing number of international families require solutions to help meet their liabilities while protecting their assets for future generations.

Lombard International Assurance has designed the International Life Plan specifically for HNWIs facing these challenges, to efficiently manage their fiscal and other obligations, while ensuring that their financial legacies remain intact. The solution is particularly relevant for international individuals who require a higher level of cover, whose planning needs are more complex, and so require highly bespoke solutions.

In addition to covering obligations associated with succession, the International Life Plan can be used as a risk management tool to address a broad range of needs such as family security, personal and business debt repayment, partnership protection and key person risk protection.

Axel Hörger, Chief Executive Officer of Lombard International Assurance, said:  At Lombard International Assurance, we understand the importance of highly sophisticated, long term wealth planning for high net worth clients. These individuals have significant responsibilities and so providing liquidity at the right time is essential to ensure that their legacies continue. Our unrivalled expertise means that we are uniquely placed to offer such a solution.”

“As pioneers in unit-linked life insurance, the International Life Plan reinforces our ongoing commitment to remain at the forefront of innovation in developing the best solutions for our clients. We intend to further develop our range of sophisticated protection products over the coming months.

The solution is currently available to UK and German residents and to UK non-domiciliaries with UK obligations. It has been designed as either a fixed term or whole of life solution in the UK and with defined term options in Germany, ranging from 10 years, to term to age 99, which on the death of the life assured will pay a fixed death benefit. Joint lives assured can also be accepted on either a first or second death basis. Cover is offered on International Lives and risks written in Sterling GBP, Euro, USD or CHF.

Lombard International is reinsured by RGA, a leading life reinsurer, to ensure the highest confidence in Lombard’s future claims-paying ability and the long-term sustainability of the International Life Plan.

Lombard International Assurance administers one of largest unit-linked life insurance portfolios in Europe. The International Life Plan leverages its existing in-house technical expertise in cross-border wealth solutions to maximise clients’ security and serve even their most complex and demanding wealth planning requirements.

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