Investments
Premiere Europe Account
The Premiere structure written from within the European Union, for clients who need an EU-domiciled contract for tax or residence reasons.
Trinity College, Dublin · Diliff, CC BY-SA 4.0
Who it is for
EU-resident clients introduced by a broker, and cross-border cases
What it does
- EU-domiciled contract with the same open architecture asset range
- Written in EUR, GBP or USD
- Designed for portability where the client’s residence may change
- Segmented for partial surrender planning
The product in full
The Premiere Europe Account is the same structure as the Premiere Account, written from within the European Union. For a client resident in an EU member state, or one whose residence may move within it, the domicile of the contract is not a technicality: it determines which state’s insurance rules govern the policy, how it is reported, and whether it is recognised as a life assurance contract at all in the client’s own jurisdiction.
Everything else is carried over. The open architecture asset range, segmentation up to 99 policies, multiple lives assured and the ability to assign segments all work as they do in the sterling contract. The currency can be euro, sterling or dollar, and the currency of the contract does not have to match the currency of the assets inside it.
Portability is the reason most of these cases are written. A contract that survives a change of residence without being surrendered avoids crystallising everything at the worst possible moment, which is what happens when a wrapper is not recognised in the country the client has moved to.
Literature
Product literature is issued to appointed intermediaries. Ask your underwriter, or request it through the enquiry form.
- Key information documentOn request
- Application formOn request
How it works
What happens, in order
From the first enquiry to the point the cover, the contract or the facility is in place.
Residence and domicile are established first
Where the client lives now, where they may live later, and what their own advisers say about recognition of the contract there. This is the decision the product exists for.
The contract is issued from within the EU
In euro, sterling or dollar, with lives assured and segmentation set at outset.
Assets are selected under open architecture
The same range as the sterling Premiere contract, dealt and held inside the wrapper.
Withdrawals are taken by segment
Encashing whole segments keeps the arithmetic clean across borders, which matters when two tax systems may look at the same contract.
The numbers
A worked example
Illustrative arithmetic, so the shape of the product is visible rather than described. Nothing here is a quotation or a projection.
A €200,000 contract, and a €40,000 withdrawal
Segment arithmetic in euro. The same mechanism as the sterling contract, in the currency the client actually banks in.
- Single premium
- €200,000
- Segments issued
- 99
- Value per segment at outset
- €2,020.20
- Client needs
- €40,000
- Segments encashed
- 20
- Proceeds released
- €40,404
- Segments remaining in force
- 79
Illustrative, at outset values. The minimum premium for this contract is €120,000. Recognition and tax treatment in the client’s state of residence are matters for their own advisers, and they differ across the Union.
The contract after a €40,000 withdrawal
What is left in force, counted in policies rather than in money.
Segments issued at outset
99
- Segments remaining in force79 · 80%Untouched, and still invested
- Segments encashed20 · 20%Surrendered in whole to release €40,404
View these figures as a table
| Amount | Share | |
|---|---|---|
| Segments remaining in force — Untouched, and still invested | 79 | 79.8% |
| Segments encashed — Surrendered in whole to release €40,404 | 20 | 20.2% |
| Segments issued at outset | 99 | 100% |
Suitability
Where the Premiere Europe Account fits
The cases it answers, the cases it does not, and what an underwriter needs before quoting.
It is the right answer when
- An EU-resident client who needs an EU-domiciled life contract.
- A client whose country of residence may change within the Union.
- Cross-border cases where the sterling contract would not be recognised.
Look at something else when
- A UK-resident client with no cross-border dimension — the sterling Premiere Account is simpler.
- Premiums below the €120,000 minimum.
What we need to quote
- 1.Evidence of residence, and the client’s own tax advice on recognition.
- 2.The contract currency, lives assured and segmentation.
- 3.Application, premium and source of funds evidence.
Questions
What brokers ask us about this product
Can the contract currency differ from the assets inside it?
Yes. The contract is denominated for reporting and settlement; the assets can be held in other currencies. The client carries the currency movement between the two.
What happens if the client leaves the EU?
The contract continues, but its treatment in the new country of residence is a question for advisers there. It is precisely the scenario to ask about before the bond is written, not after.
Is the asset range narrower than the sterling contract?
No. Open architecture applies in the same way, subject to the usual restrictions on what a life fund may hold.
Request information
Ask us about the Premiere Europe Account
The form reaches an underwriter in Dublin. If you are an intermediary, say so and we will route it to the broker desk.