How does a Liechtenstein or Swiss annuity work?
• Clients purchase a policy with a foreign insurance company in Liechtenstein • The insurance company opens an account with a custodian bank (in Switzerland) • The funds are managed in the name of the insurer, according to the agreed strategy • In the event of death, the pay out will be made according to policy holder’s instructions • In the event of bankruptcy, ownership of the policy automatically transfers to the nominated beneficiary (if spouse or descendant) or to irrevocably nominated beneficiary (such as family trust) Is there a minimum investment required? Yes, AUS$100,000 Can I make additional contributions at any time? Yes, but the minimum is AUS$25,000 Is there a limit as to how much I can invest? No, there is no upper limit. How liquid is my investment? Extremely. Upon cancellation of the policy, withdrawal or commencement of annuity payments funds are normally received within a few business days of lodging the request. However, the underlying investments within a policy ma
