Lombard International Assurance, a provider of wealth structuring solutions for HNW clients, has rolled out a new wealth planning solution aimed to meet the needs of US taxpayers and US residents currently residing in the UK.
Called Wealth Passport-UK Hybrid Policy, the solutions has been designed to offer benefits of a UK life assurance policy together with a US deferred variable annuity contract, including simplified reporting, investment flexibility and tax-deferral during the insurance term.
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The policy will also service UK residents who, for business or personal reasons, plan to take up residence in the US for a period of time.
The UK Hybrid Policy will also offer a practical solution to the issues faced by US clients.
Lombard International CEO Europe Axel Hörger said: "We are excited to launch this solution which, against a backdrop of growing regulatory complexity, is tailored to meet the specific planning needs of US expats and prospective US residents currently in the UK."
Recently, Lombard International Assurance has launched a solution for the German market called the Wealth Passport – German Hybrid Solution for both US citizens who temporarily live in Germany and for German citizens who plan to temporarily move to the US.
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By GlobalDataThe German Hybrid Solution combines a German life insurance contract with the US deferred annuity contract.
