The redemption options, available from 29 November under its Europe Premiere accounts, are aimed at those looking to defer the effect of direct UK taxation on their investment whilst retaining access to the investment or wishing to take a regular income from the investment.
The CRB offers two maturity options depending on the level of investment flexibility desired by the investor, the company said.
A key benefit of a capital redemption bond is the absence of needing to select lives assured parties, the international life insurer said.
Sean Christian, executive director of Canada Life’s International businesses, said: “Over the last year or so we’ve experienced more and more advisers and their clients asking for us to introduce a Capital Redemption Bond option. In September of this year, we introduced a Capital Redemption option on our Premiere and Premiere Alpha Discounted Trust Accounts through Canada Life International in the Isle of Man.”
He added that the market has seen “significant provider consolidation recently and this has limited the availability of Capital Redemption Bonds from providers”.
“Traditionally these products have been issued from the Isle of Man and there is extremely limited choice from Dublin providers. We are delighted to fill this gap in the market by today making this option available through our Dublin-based company.
“The extension of our proposition is good news for estate planners, good news for eligible trusts and good news for our advisers, further demonstrating Canada Life’s long term commitment to the UK market”.