Canada Life launches Wealth Preservation Account product

Canada Life International has come to the market with a product designed to mitigate inheritance tax...

Canada Life International has come to the market with a product designed to mitigate inheritance tax (IHT) liabilities. The Wealth Preservation Account (WPA), designed to allow people to gift capital while retaining periodic access to the cash, consists of a series of single premium life assurance policies settled on a bare trust and discretionary trust arrangement. Each of the policies has a finite term until a known maturity date. From the day the product begins, the legal titles of the policies will be assigned to a bare trust while the individual taking it out will settle all equitabl...