Providence Life Assurance Company Ltd

Catering exclusively to ultra-high net worth clientele, PLAC operates as a Class C insurer and a 953(d) U.S. tax electing entity. Our core competency lies in delivering bespoke life insurance solutions, including Private Placement Life Insurance (PPLI) and Private Placement Variable Annuities (PPVA), meticulously designed to address the intricate financial planning requirements of our discerning clients. We operate under the stringent regulatory oversight of the Bermuda Monetary Authority.

BENEFITS

We tailor our products and services to meet client needs.
Minimal and transparent fees, no up-front commissions and highly customized funding and ownership structures.
Availability of investment options for underlying policy assets (contributed premiums) ranging from a number of Insurance Dedicated Funds (“IDF’s) to Separately Managed Accounts (“SMA’s) having open-architecture approaches allowing the full range of insurance-eligible investment alternatives.

Asset Protection, Investment Flexibility, and Significant Tax Benefits

Private Placement Life Insurance (PPLI) and Private Placement Variable Annuities (PPVA) are not just insurance products, but advanced financial instruments designed to offer asset protection, investment flexibility, and significant tax benefits. The unique structure of PPLI and PPVA allows for tax-deferred growth of investments and provides opportunities for tax-free income streams, optimizing the long-term performance of your financial portfolio. Add to this the personalized investment options and the stringent regulatory oversight these vehicles enjoy, and you have an attractive, multi-faceted approach to wealth management that aligns with the complex needs of high net worth clients.

A Global Center for Insurance and Financial Services

Known for its robust regulatory framework, Bermuda is internationally respected and adheres to the highest standards of compliance, risk management, and transparency. Being based here provides us with an additional layer of credibility and stability. Additionally, Bermuda’s tax-neutral environment allows for more efficient capital allocation, thereby amplifying the profitability and financial security of our offerings. This tax structure is particularly beneficial for high net worth clients, who can optimize their financial planning strategies for maximum tax-efficiency.