For advisers focused on estate planning, the combination of Canada Life's bond products and the P1 Platform offers something genuinely useful, particularly for clients with inheritance tax concerns.

Canada Life's Premier Investment Bond holds a Defaqto Gold rating, and their Wealth Preservation Account is one of the more thoughtfully designed IHT planning tools available. It allows clients to potentially reduce their inheritance tax liability whilst retaining access to trust assets through optional yearly withdrawals. Investment growth is shielded from inheritance tax from day one, and after seven years, the gifted assets fall outside the estate entirely.

That is a meaningful combination of flexibility and long-term tax efficiency, and it is now accessible through the P1 Platform.

Getting Set Up

The process is straightforward. The adviser creates the policy directly with Canada Life Investments, then sets up the corresponding account on the P1 Platform. A brief confirmation email to Canada Life is all that is needed to complete the setup.

For advisers looking to transfer an existing bond across, Canada Life handles the bulk of the administration once the instruction has been submitted. The ceding provider and P1 Platform then work together to process the transfer.

A Note on Payments and Withdrawals

Payments into the account follow a slightly different route to the standard process, so it is worth being aware of this ahead of time. Any withdrawals will be paid directly to Canada Life.