amphora

Variable Universal Life Insurance for

U.K
Residents

Offered by Amphora life

The Company

Amphora Life Insurance Company Ltd. is a privately owned insurance company operating under the Amphora Financial Group based in Barbados since 2006. The ultimate owners of the company are Canadian citizens. Through our team of disciplined financial experts, we cater to high networth families around the globe by providing cutting edge life insurance solutions and a personalized service with advantageous insurance rates and investment freedom. All the policies are issued in Barbados.

Aim

At Amphora Life, we pride ourselves on tailoring solutions as unique as the families we serve. Working closely with our clients and their legal, accounting and investment experts, we analyze each situation in depth and detail to produce insurance solutions that are individually designed to maximize tax benefits and capital protection within the limits of the law.

Life Insurance

Life insurance is not for the hereinafter, it is for the here and now. Once used solely to ensure financial stability for our families in the future, it is now also used to preserve wealth and quality of life in the present. As governments have increased their tax-based revenues and legislation has rendered many of our traditional wealth-preservation methods inefficient, life insurance still remains a powerful wealth-preservation strategy. Life insurance offers tax benefits and capital protection.

The Policy

The process is simple: a substantial portion of the policy premium is invested and appreciates in a tax sheltered environment. If and when funds are needed, the policyholder may borrow against the policy or withdraw from the policy. It is therefore the perfect com- bination between investment and life insurance protection inside a single policy. The policy allows you to adjust the death benefit and to vary the amount and/or frequency of premium payments. All the funds held within your insurance policy are invested judiciously ac- cording to your financial objectives, risk appetite and the prevailing laws in your country of residence.

Benefits 

Asset Protection – Under Barbados law, a life insurance policy affords a high level of asset protection even if you enjoy important contractual rights under the policy.The policy may be denominated in any major currency.

Investment freedom – Investment freedom is one of the hallmarksThe portion of the death benefit that represents accrued gains is subject to a tax charge as regular income if the policyholder resides in the U.K. on the death of the insured. at Amphora. The policyholder may select from a wide range of investment benchmarks. Investment benchmarks include index funds, equity funds, bond funds, hedge funds and other types of funds managed by reputable third parties. You can also choose benchmarks linked to the performance of funds managed by professionals with whom you have a pre-existing business relationship. However, you are not allowed to self-manage the policy investments or to purchase individual stocks in the policy. Faster Growth – Because of wider investment options, the policy offers a faster growth potential than a traditional cash-value whole life insurance policy. Immediate Cash Value – Cash value is available from year 1 of the policy. Competitive Rates – Amphora Life works primarily with our clients’ professional advisors without going through traditional brokers. As a direct result of this, we offer highly competitive insurance rates and significant savings to our clients. Security – Policy investments are held in a separate account to which the creditors of Amphora Life have no claim. Upon the death of the insured, the insurance proceeds are directly remitted to the beneficiary and do not have to go through the estate of the insured and hence, are not subject to creditors’ claims. We only retain a small fraction of the amount at risk on high value policies. The bulk of the policy risk exposure is reinsured with highly rated reinsurers to ensure maximum security and peace of mind to our clients.

Taxes

Funds accumulate within the Policy without being subject to any income tax. Changes of investment benchmarks do not trigger tax.

Withdrawals

Tax-free premium withdrawal of 5% annually, any unused portion of this 5% is cumulative and can be taken out tax-free in a later year. Withdrawals in excess of the 5% per year allowance gives rise to a tax charge on accrued gains as regular income.

Loans

Loans secured by the policy are tax free provided that an arm’s length interest rate is charged and that the lender is not Amphora Life.

Reporting

Amphora Life must report each policy that has a cash value.

Currencies

The policy may be denominated in any major currency.

Death Benefit

The portion of the death benefit that represents accrued gains is subject to a tax charge as regular income if the policyholder resides in the U.K. on the death of the insured.

Cost of Insurance

The cost of insurance (COI) rate depends on the sex, the smoking status, the age of the insured, the overall health and place of residence. Advantageous COI rates are offered as a result of low overhead and distribution costs. The COI rates per $1,000 of net amount at risk are guaranteed for the life of the policy. COI charges are deducted monthly from the designated policy account.

Separate account

Policy investments are held in a separate account to which the creditors of Amphora Life have no claim. You are therefore fully protected in the event of Amphora Life’s insolvency.

Premium Tax

No premium, sales or value-added-tax.

Surrender Charges

None.