Private Wealth Portfolio

You can take advantage of the many benefits offered by Private Wealth Portfolio:

Death benefit options  

Private Wealth Portfolio provides you with two automatic Death Benefits at no extra cost, ensuring that your loved ones are financially protected in the event of your death:

  • Standard Death Benefit will pay up to 105% of the investment value of your portfolio, depending on your age at the time of death. The benefit is capped at €1,000,000.
  • Accidental Death Benefit pays €100,000 to your beneficiary if you die in an accident before the age of 80.

You can also choose to add additional Death Benefits to your portfolio; ‘Enhanced Death Benefit’ is a top-up to your Standard Death Benefit and ‘Wealth Solutions Benefit’ provides additional security should the value of your investment be less than the amount of premiums you paid at the time of your death.

Flexible estate planning  

Private Wealth Portfolio is a valuable instrument for the smooth transition of your wealth from generation to generation:

  • There are no restrictions in terms of named beneficiaries, who can be changed at any time (subject to the provisions of the law), and
  • The amounts originally attributed to beneficiaries can be easily altered.
  • Death Benefit(s) that are paid in addition to the investment value in the Private Wealth Portfolio are exempt from Capital Gains Tax.
  • Your beneficiaries will receive funds exempt of Inheritance Tax.

Withholding Tax Agent service  

As a Withholding Tax Agent in Italy, we alleviate the administrative burden in relation to Income Tax, Capital Gains Tax and Stamp Duty Tax, which would otherwise be borne by you.

Deferred Stamp Duty Tax  

Stamp Duty Tax, which is applicable on all periodic communications, is deferred until your policy is either surrendered or paid out on death.

Deferred Capital Gains Tax  

Capital Gains Tax is applied to certain gains realised on the value of the investments held in your policy. However with Private Wealth Portfolio, this tax is deferred until your policy is either surrendered or paid out on death.

Residence planning  

Private Wealth Portfolio allows capital gains tax to be deferred until surrender and it is payable where you are fiscally resident at that time. This offers an extremely efficient solution if your policy is surrendered while you are resident in a country other than Italy and where the tax treatment on accrued gains is more advantageous in that country.

Currency choice  

You can choose the currency of your investment in either Euro, US Dollar, Swiss Franc or Pound Sterling. The minimum initial premium is EUR 500,000 or equivalent in these currencies.

The information provided is based on our understanding as at 30th May 2016. Fees and charges apply. There may be a delay in processing surrender payments where the investment portfolio contains illiquid investments. You should discuss the taxes, fees and charges applicable to Private Wealth Portfolio with your financial advisor before you apply for this product. Your financial advisor will provide you with the guidance and advice that you need to make Private Wealth Portfolio work effectively for you.


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