The Prudential International Investment Portfolio is a single premium unit-linked investment contract with open architecture available as either:
A Life Assured version - a whole of life assured contract written on a single or joint lives last death basis, or
A Capital Redemption option (CRO) - a non-life assured contract with a fixed term of 99 years
The portfolio allows access to a wide range of investment choices with the aim of increasing the value of money your clients invest. It offers a wider choice of funds than the Prudential International Investment Bond.
A single premium of at least £50,000 (or currency equivalent) is the minimum investment level for the bond to be taken out. The minimum top up premium is £5,000 (or currency equivalent).
For the Life Assured version, there is no set investment term of the Bond. Both versions are set up as a group of identical policies, normally 20, available up to 100. Your clients can choose to cash in each policy separately, helping them withdraw money in a tax efficient way. The plan comes with a small amount of life cover and will pay out a lump sum when the person, or people, covered dies.
For the Capital Redemption option, the Bond has a fixed term of 99 years, although it can be encashed at any time. If it is continued for the full term, it will pay a guaranteed minimum amount at maturity. This option can be particularly attractive for trusts, allowing the trustees to choose when to cash it in or instead keep it going through successive generations.
The Prudential International Investment Portfolio also allows you or your client to appoint a Discretionary Asset Manager (DAM) to manage all or part of the Bond. We have five DAM partners, selected for their experience in the adviser market