But what is Life Assurance?
Life assurance and life insurance are sometimes used interchangeably, but life assurance is more of a wealth management tool, allowing for beneficial tax treatment and flexible inheritance and legacy planning and more.
It is important to understand these factors: whereas life insurance only ever pays out in the event of death and a consequent claim, life assurance crosses the boundary between insurance and investment and is optimised towards achieving long-term and tax-efficient growth to pay out either a guaranteed minimum sum or its investment valuation, plus the value of any additional annual bonuses paid by the life assurance company.
Life Assurance Portugal
Many of the tax and inheritance planning advantages offered by Portuguese life assurance products are not to be found even in the conventional investment portfolios of Non-Habitual Residents.
All sums invested in a Portuguese life assurance contract are exempt from tax once the contract reaches maturity or is ended by the death policyholder.
Life Assurance in Portugal with Blacktower
Blacktower’s Life Assurance Private Wealth Portfolio in Portugal offers clients the benefit of a flexible product that acts as a compliant tax shield and many other attractive wealth management features.
Clients can nominate a Portfolio Manager and/or custodian based in their country of choice and have the confidence of knowing that the vehicle both meets Portuguese legal requirements and qualifies for the Portuguese life insurance regime.
The product allows you to invest in just about any bankable asset and offers the broadest possible spectrum of permissible assets – for example, deposits, bonds, shares, closed investment funds, and private equity funds.
Here at Blacktower our objective is to ensure that you are connected with the financial products and services that are right for you and your goals.
With offices in Lisbon and in the heart of the Algarve, we can help you with all aspects of wealth management, including life assurance, inheritance tax planning, pension planning, pension transfer schemes and regular savings and investments.
Please, fill out our online contact form so that we may call you back to discuss your life assurance needs. or call your local office directly.
This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.
Following the news that no new buyer was interested in BHS and its £571 million pension deficit, a number of our clients with a working history in BHS got in touch with us to find out their position and options with regards to their future pensions. Unfortunately, it was too late as the window had closed. The BHS scheme got into the Pension Protection Fund, a statutory fund in the U.K., intended to protect pensioners if their 
ery worker in the UK who is a member of a company pension scheme will have to help fill a black hole estimated at £571million in the BHS pension scheme. This is because the Pension Protection Fund, which steps in when businesses collapse, gets its money through a levy imposed on all company schemes.