IOMA International Variable Life Policy

Isle of Man Assurance

The International Variable Life Policy (IVLP) has been specifically designed by Isle of Man Assurance Limited (IOMA) as a Modified Endowment Contract (MEC) to meet the offshore life assurance and investment needs of the high net worth United States taxpayer. A MEC that satisfies the requirements of Section 7702 and Section 817(h) of the U.S. Internal Revenue Code 1986, allows the Policyholder to obtain significant tax savings on investment growth over a regular investment or brokerage account. Furthermore, in the event of death, the Policy will provide a significant death benefit for your loved ones and heirs, which is variable in line with age, and the value of the underlying investments held in the Policy. 

The IVLP is structured around a Policyholder, a Life Assured and a Beneficiary. The Policyholder and Beneficiary may be an individual or other entity, such as a Trust. The Life Assured must be an individual and remain constant for the duration of the Policy. Each Policy has an Investment Portfolio specific to it. A death benefit is payable to the Beneficiary upon the death of the Life Assured, the level of which is in accordance with the requirements of Section 7702 of the Internal Revenue Code. Withdrawals can be made from the Policy at any time. However, as the Policy should be considered a long-term investment, charges are levied on surrenders requested within six years of the Policy issue date. Similarly, if a Policyholder is under the age of 59½, a further tax penalty of 10% of the value of the taxable portion of the surrender will generally become payable under United States Tax Law

E-mail us now to get prospectus and fact sheet for this fund