Canada Life International has halved the minimum investment level on its Premiere investment bonds, to £50,000, from the previous £100,000.
The Premiere Account is available via Canada Life International in the Isle of Man while the Premiere Europe Account is available from Canada Life Assurance in Dublin.
The maximum age of the youngest life assured by the bond has also increased from 79 to 89 and the minimum additional investment amount has been reduced from £5,000 to £2,500 to new and existing policies excluding discounted gift trusts.
The maximum number of segments increased from 998 to 99,999 with the default set at 12,000 while the minimum value per segment was reduced from £2,000 to £0 for new policies.
Additionally, Canada Life International has added the Segregated Portfolio Service (SPS) to the Premiere Europe Account.
The SPS allows an approved discretionary investment manager (DIM) to use a wider range of assets, including direct equities, while still meeting HM Revenue & Customs regulations for international bonds.
A DIM who uses the SPS can offer a bespoke investment solution for each of their clients and potentially lower investment manager fees.
Sean Christian, managing director and executive director of international businesses at Canada Life International, said: “The customer is at the heart of these improvements. We are providing greater choice and more options in our two most popular, award-winning portfolio bonds.
“The central tenet of the Canada Life International proposition is freedom – we don’t try and tie advisers down to one platform, or one jurisdiction, a single back office system or discretionary investment manager.
"Ultimately advisers are freely able to pick and choose the best options from the marketplace to suit each and every client.
“Lowering our minimum premium opens up our products to a wider target market and the increase in policy segments provides advisers and their clients with an unrivalled level of flexibility in the UK market.
"These enhancements follow our launch of capital redemption options which were introduced to the Premiere products last year.”
Alistair Cunningham, director of Wingate Financial Planning, said: “These enhancements are positive and enhance an already strong proposition”