AXA launches Estate Planning account

by Gill Montia

Story link: AXA launches Estate Planning account

AXA Wealth Management has launched an Estate Planning account via its Isle of Man subsidiary.

The new product sits alongside AXA’s range of inheritance tax planning products and according to Mike Foy, AXA Isle of Man’s managing director, is a more straightforward version of the company’s Estate Planning bond.

The account is a unit-linked investment that combines a redemption bond with a trust.

It has been designed to reduce potential UK inheritance tax liability, provide an income for life and increase investment value over the medium to long term.

Clients can also benefit from features such as optional guarantees (which can protect a settlor’s income from volatile markets) and have a choice of over 200 AXA Select funds plus around 50 AXA Family funds.

Prospective clients must be aged 79 and under and accounts cannot be surrendered during the settlor’s lifetime.

AXA says it has plans to launch a number of other guaranteed products during the coming months.