#Success in #Succession – Part II – Safeguarding your family’s future

Many high-net-worth individuals (HNWI) are concerned about protecting and prolonging their wealth for their loved ones. Our research conveys that 68% of European HNWIs view life assurance as means of safeguarding financial security for their family.

Our case study illustrates how life assurance is not only a tax efficient investment tool, but also an effective inheritance planning solution. When Pedro and Maria Ferreira officially retire, they intend to move back to Portugal to enjoy a better climate and a lower cost of living. The Ferreira’s have two children, Filipe who lives in Lisbon and Manuela who resides in Paris with her husband. For the Ferreira’s, a durable solution with a comprehensive succession plan is imperative. Therefore, drafting the beneficiary clause in a life assurance contract is of utmost importance; as it will ensure Filipe and Manuela receive an inheritance.

Pedro and Maria are looking to take things easier. Whilst they enjoy their retirement, they want peace of mind that their financial affairs are being well managed, will allow them to maintain their lifestyle in their new country of residence, Portugal, and know that their children are well-protected when it comes to passing on their wealth to the next generation. Their decision to use a Luxembourg life assurance policy as a wealth planning and inheritance tool safeguards their wealth for now and for future generations.

To know more about how life assurance can create a customised wealth transfer and inheritance structure, download our e-book => here !

Source: OneLife & Scorpio Partnership

#Success in #Succession – Part II – Life assurance – 1, Cross-border tax complexities – 0

According to our research, European high-net-worth individuals regard tax as the most important reason for having a wealth transfer plan.

But with the rise in international mobility, understanding how to manage your assets whilst remaining tax compliant and efficient cross-borders is no easy task.

After 45 years as a tax resident in France, raising two children Filipe and Manuela, Pedro and Maria Ferreira are entering a new chapter in their lives, retirement and relocation home to Portugal. For Pedro, his requirements for his financial plan are clear – he needs a flexible and tax-efficient solution to consolidate his assets and facilitate his eventual cross-border succession. The OneLife solution for the Ferreira family is even clearer – a co-subscription of a whole-of-life Portuguese life assurance policy by Pedro and Maria. This policy would cover both their lives and protect their wealth to support their children when the couple pass away.

Discover it all through this video

More and more retirees and entrepreneurs are choosing to change location to enjoy such benefits as a warm climate and a more relaxed pace of life. These Sunseekers often choose the Iberian countries to relocate to. OneLife has experts for these jurisdictions who can help in cross-border situations whether those in question decide to stay in their new country or return to their country of origin. With in-depth knowledge of the tax and legal implications of moving from France to Portugal, our wealth planners can provide a solution which best fits the needs of the newly mobile Ferreira family.

To dive deeper into how life assurance overcomes the complexities of cross-jurisdictional succession, read our #Success in #Succession e-Book => here and check out our => Succession Checklist !

Source: OneLife & Scorpio Partnership

#Success in #Succession – Part II – Getting to grips with succession

Planning long-term when it comes to your wealth is fundamental, starting off with mapping out your personal financial ambitions to help determine the best products to manage your assets.

Yet our research indicates that only 20% of European HNWIs believe a succession plan is extremely valuable.

Take Manel Alvarez, a 50 year old engineer. Manel resides in Tarragona, Spain and his son Juan lives in London with his partner. Juan hopes to purchase property in the city or complete a MBA at a business school but he will need financial support from his family to do this. Manel has recently been offered the opportunity to relocate to Portugal to lead the expansion of his company. His assets consist of a couple of properties around Spain and financial assets of €500,000. At the top of Manel’s agenda is ensuring his assets are secure for Juan in the future.

A life assurance policy can help when it comes to dealing with complex family situations and the need to finance special events of family members during the life of a policy. As long as planning is done at an early stage, the policy can cater for requirements such as liquidity when it is needed.

To find out how life assurance can provide Manel financial security with portability and tax efficiency benefits, read our #Success in #Succession Part II e-Book = > here!

Source: OneLife & Scorpio Partnership

#Success in #Succession – Part II – Taking care of tomorrow

Our research on HNW individuals finds that 68% of European high-net-worth individuals seek life assurance products as a way to ensure financial security for their family whereas 24% view it as a tax efficient way of structuring their assets.

Mr Alvarez falls into both categories. His recent promotion requires him to move from Spain to Portugal to set up a new branch for operations. Although this is an exciting opportunity, it has prompted him to start thinking about how to secure the future for his son Juan, as well as, Juan’s girlfriend, Margareth who both live in London. He is also keen to ensure his assets are protected whilst his divorce is finalised.

Manel has decided to part ways with his wife and is in the process of divorce. Given that his relationship with his soon to be ex-wife is not amicable, he wants to privilege his son and his son’s girlfriend as direct heirs without Juan’s mother being part of the plan. The flexibility of a Luxembourg policy allows for the definition of beneficiaries in direct line with the wishes of the policyholder, so Manel will be able to choose to protect his loved ones as he decides.

The OneLife solution is centred around a mixed death and survival policy. This brings a number of benefits in the areas of portability, tax efficiency, asset transfer and autonomy over the choice of beneficiaries.

Creating a life assurance plan for the Alvarez family has a lot of moving parts – tax implications and managing the transfer of assets across jurisdictions are among them. Luxembourg life assurance combines a highly tailored approach to wealth planning with strong levels of asset protection. So the policyholder can be sure that his wealth is transferred exactly as he intends it to be. Making sure that the solution fits the specific case brings complexity. OneLife’s international team of experts have long experience and know-how when it comes to wealth structuring for HNWs and their families.

To find out how we navigated the complex aspects of the Alvarez’s life assurance policy, click = > here!

And check out our Succession Checklist = > here!

Source: OneLife & Scorpio Partnership

Choose Life. Choose Luxembourg.

Life insurance companies too have found their home in Luxembourg and specialise in life policies linked to investment funds, products that offer clients the combination of life cover and the prospect of financial returns. Life assurance contracts are often linked to dedicated funds, instruments that are increasingly favoured in the wealth management industry today.

Luxembourg is the premier private banking centre in the Eurozone and the second largest fund centre in the world. Its social, economic and political stability makes it an ideal hub for both private and institutional investors from all over the world.

With flexibility and geographic portability key features of a life policy, it is an ideal way for HNWIs and their families to manage preserve and transfer wealth across generations.

With its cross-border leadership on the European scene and extensive expertise, Luxembourg offers unrivalled support in developing global solutions covering multi-jurisdictions while anticipating potential mobility of clients in the future.

In addition, Luxembourg unit-linked policies embed a full range of traditional and non-traditional assets from equities, bonds, money market instruments to real estate, private equity, derivatives, and securitisation. These enable clients to achieve fully-customised strategies in terms of both protection and returns in these days of negative interest rates.

Luxembourg provides maximum security through its life assurance policyholder protection regime. The cornerstone is the legal requirement that all clients’ assets are held by an independent custodian bank approved by the Luxembourg State regulator, the Commissariat Aux Assurances (CAA). This arrangement is known as the Triangle of Security and ensures the legal separation of clients’ assets from the insurance company’s shareholders and creditors as well as a ‘super-privilege’ giving the policyholder first priority in case of default. This protection framework is a criteria for European clients as well as for an increasing number of international clients who may come from less stable countries and who are looking for more secure jurisdictions.

Combining international expertise, protection and flexibility, Luxembourg clearly offers multiple advantages to international investors looking for sophisticated financial and inheritance planning solutions in a transparent and secure environment.

Watch out our latest video to view the multiple advantages of Luxembourg life assurance solutions and how OneLife can help you.

Sales Navigator from LinkedIn – what better way to source new business?

OneLife likes to use a combination of traditional and digital marketing to source new business. LinkedIn is a particularly powerful tool that facilitates the sourcing of quality leads that can then be qualified by our Sales teams internally to help build new business relationships for the future.

The new way to sell is social! The OneLife Company Succeeds at Sourcing Leads with LinkedIn Sales Navigator

Did you know? In 2017, 30% of new premiums in OneLife policies were collected using this methodology. That’s almost a third of new business sourced directly – and digitally – from LinkedIn! It’s a cost- and time-efficient way to work.

The OneLife Team involved in the case study came from across a number of OneLife’s markets: Nadine Baltus, Cécile Portes, Arnaud Mezergues, Bastien Perrine, Tarja Valkeinen and André Piovezan, led and coached by Christophe Regnault, OneLife Digital Marketing Manager. Using LinkedIn’s network and process, Sales Navigator made a real difference in shortening the sales cycle and creating real business opportunities.

What did we achieve ? For this, we are pleased to say that OneLife is the first wealth management company globally to part of LinkedIn Global’s « Hall of Fame » which ranks best-in-class companies when it comes to modern selling techniques. OneLife is now recognised by LinkedIn as an expert in social selling and lead generation and sits in the prestigious company of the likes of Microsoft, Paypal, SAP ….

How did we get there ? The project was initiated in March 2017 by Christophe Regnault as part of his keynote speech at the L’Apéro des Marketers event in Luxembourg. The seal of approval from LinkedIn is indeed strong recognition that the actions put in place with the Sales Navigator tool delivered real results for OneLife. The combination of LinkedIn’s network, clear KPIs and a motivated team of people is a winning formula!

See => here for the Link to the OneLife Case Study.

Antonio Corpas, Chief Executive Officer OneLife : “We have seen the advantage first-hand at OneLife of adding the modern social selling dimension to more traditional selling techniques. The success of LinkedIn sales solutions is the ability to target contacts who have a real interest in our service offering so responding quickly and in a cost effective way to help satisfy their needs”.

Christophe Regnault, Digital Marketing Manager OneLife : “If you thought that modern selling couldn’t be applied to wealth management and life assurance, then just think again! 30% of OneLife’s assets within Europe have come from leads sourced via Sales Navigator. If this is applied to the rest of our territories, you can see that it has quite an impact!”

What’s next? With these strong foundations, OneLife is now ready to further build and expand this dynamic towards all the front-end teams @OneLife and also towards its stakeholders.

This means two main actions:

Keep on increasing the number of participants internally so as to progressively expand the brand reach on OneLife’s key differentiators;
Further Integrate our stakeholders, by organising external workshops with our partners to get a multiplier effect and alignment in terms of relay of the brand reach but also to generate value out of our leads.

OneLife will keep up its modern selling work and would like to congratulate all those involved in this experience!

#Success in #Succession – Part II – A relocation-friendly life assurance plan

Our research shows that across Europe, two-thirds of high-net-worth individuals use life assurance products – particularly in France (78%), Germany (72%) and Belgium (71%).

Belgian expats Andreas and Angela live in the UK along with their two children, Conran and Chloe. However with Brexit looming, creating a life assurance plan is on their minds. In safeguarding their future, the Willems’ are keen that their new plan includes an integrated succession plan and is fully flexible in the event of relocation, once their children complete their education and move out.

The OneLife solution meets these objectives by creating a life policy that protects the surviving spouse, consolidates their assets against relocation and mitigates the level of tax applicable to their policy. It is worth considering that a Luxembourg life assurance policy is an internationally recognised wealth planning solution that places protection, flexibility and efficient wealth transfer at the heart of its proposition. Luxembourg’s strong policyholder regime, its safe and stable financial and political environment and its AAA credit ratings from the top international rating agencies brings peace of mind that wealth is well protected – for the long term.

Interested in learning more about the OneLife solution for the Willems family? = > Click here!

Source: OneLife & Scorpio Partnership

#Success in #Succession – Part II – Managing Succession For Expatriates

According to our research, 60% of high-net worth individuals from the UK have a plan in place for the succession of their finances. Despite the expatriate status of the Willems family, who are originally from Belgium, they are no different.

Although they have settled into life in the UK over the past years and have even begun to view it as a home away from home, recent waves in politics have caused them to reconsider.

Now with Britain’s imminent departure from the EU, they are exploring their options when it comes to creating a life assurance policy which has integrated succession planning. However, creating a plan that protects all parties involved and has cross-border capabilities can be a tricky undertaking. Complexities involving tax and domicile status throw curve balls at what should be a smooth sailing planning experience.

Existing – Meet the Willems family! Meet Belgian expats Andreas, aged 57 and Angela, aged 55. The Willems lead a comfortable lifestyle in the leafy suburbs near London after moving there 12 years ago with their two children, Conran aged 18 and Chloe aged 16.

With the advent of Brexit and the uncertainty that brings, they are starting to consider what the future might hold. Changes to residency rules in the UK are also an important factor which they need to take into account. Andreas and Angela want to ensure that as successful professionals, they can maintain their lifestyle and provide for their children’s higher educational needs as they reach university age. With a Luxembourg life assurance policy and the flexibility that brings, they can be sure that their wealth is protected and transferred to the next generation efficiently, even if they were to relocate to another country.

How? A number of benefits come into play centred around

1. Tax Efficiency – taking out a Luxembourg life assurance policy before becoming domiciled in the UK means is an efficient in terms of inheritance tax (IHT) planning.

2. Portfolio Advice – a Luxembourg policy allows for the holding of a wide range of pooled investment vehicles such as UCITS funds. This gives the Willems the opportunity to hold a diversified investment portfolio as part of their life assurance contract, allowing them to choose their risk profile and switch easily between a wide range of investment funds.

3. Joint Subscription – if both Andreas and Angela subscribe the life assurance policy, they can rest assured that the surviving spouse remains protected in the event of death of the other spouse. In the case where there is no will or the will is void in their new country of residence, this provides peace of mind for the future.

4. Portability of the life assurance policy – OneLife’s team of experts has long experience in assisting clients to manage their wealth in a secure and efficient way. Even when it comes to single or multiple relocations to other countries during the life of the policy, it remains compliant cross-border and flexible enough to take into account the changing needs of the policyholders.)

Discover it all through this video

Each family situation is unique which means that the life assurance policy also must be able to take into account the special circumstances and needs of those involved. With more people than ever relocating to live and work in other countries, factors like cross-border portability are all important. And as family situations become more complex with children also often moving abroad to study and work, finding a wealth planning tool which is flexible enough to evolve around family members’ needs is key. A Luxembourg life assurance contract is an ideal way to protect, manage and transfer wealth in a safe and efficient way.

= > Click here to find out what the OneLife solution is for the Willems family!

Source: OneLife & Scorpio Partnership

My Life. My Family. My Plans. – #Success in #Succession – Part II

With over 68% of European HNW individuals choosing life assurance as a mean of ensuring financial security for now and for the generations to come (Source: Scorpio Partnership), OneLife is pleased to announce the launch of #Success in Succession Part II.

First launched in 2016, this campaign introduced us to 3 families living in different countries across Europe who could all benefit from using life assurance as a wealth and inheritance planning tool. In Part I, we followed the Blanchet Family (France), the Peeters Family (Belgium) and the Tuominen Family (Finland).

In this second part, we meet the Willems Family (UK), The Svensson Family (Sweden), the Alvarez Family (Spain) and the Ferreira Family (Portugal). All are at different stages of their lives, all have unique wealth planning needs and all are looking to safeguard their futures whilst passing on their wealth in a safe and efficient manner to their children.

As families become more mobile and move to different countries for work, study and retirement, their wealth needs have to evolve with them. Managing this complexity is not always easy. You need a safe, flexible, efficient wealth solution that will stand the test of time and deliver to your precise demands. Life assurance is an effective tool to help you tick all these boxes. It’s well regulated with assets protected under the Luxembourg policyholder protection, one of the strongest in Europe. It’s flexible enough to allow adjustments during the lifetime of the policy depending on your and your family’s situation as well as the ability to invest in a wide range of assets according to your own preferences. It’s efficient due to the favourable tax treatment it enjoys and it allows you to designate how and when you and your beneficiaries will take advantage of its benefits.

At OneLife, we enjoy today’s complexity, because it allows us to help our partners and clients to gain peace of mind safe in the knowledge that their financial assets are well protected, managed and passed on to future generations in line with their own wishes.

So what are you waiting for? Learn more about how life assurance can work for you.

Our ebook will give you real-life case studies about how a life assurance policy can provide an ideal solution to your wealth planning needs. Meanwhile, check out our => Succession Checklist and get answers to today’s essential inheritance questions.

Our vision of tomorrow’s Customer Services

Keeping the customer experience at the forefront of its concerns, the company has launched several initiatives in recent years to improve its services and meet the evolving needs of its partners and customers. And there are many projects still to come! Firmly geared towards digitalisation, OneLife is seeking to make new technologies available to all of its partners and customers, while offering qualitative, human-based exchanges.

With 40 employees, OneLife’s Customer Service handles 22,000 phone calls, 30,000 transactions and 40,000 emails every year.

Offering a multi-channel customer relationship

In the digital era, OneLife seeks to offer communication channels that are tailored to everyone: technophobes, social media addicts, loyal customers, volatile and independent customers who prefer total autonomy, customers looking for support… A customer relationship with potentially many different touchpoints!

Letters, emails and phone calls are currently the most common communication channels. However, at the same time, our secure websites (youroffice for our partners and yourassets for customers), as well as our OneLife OneApp mobile application, already give our customers the ability to stay connected with us 24/7. These digital channels enable them to obtain information about our services, products, market and company news, as well as to perform certain transactions and consult their portfolios or the status of pending transactions.

=> Download “OneLife OneApp”!

Available on Google Store or Apple Store.

In the future, OneLife will offer even more opportunities by providing online (paperless) documents, and gradually implementing electronic and online signatures. With these new tools, the company is aiming to support its partners for whom the administrative complexity of particular files, partly caused by increasing regulations (MiFID, CRS, PRIIPS, etc.), can hinder the implementation of our solutions.

We are also considering implementing a conversational agent to enable all our partners and customers to very quickly obtain the information they need on specific issues relating to new regulations, our administrative practices or our online process, at any time and without even having to pick up the phone.

=> Are you a OneLife partner?

Consult your clients’ portfolios in real time 24/7 thanks to our secured online portal your office!

=> Click on the icon below.

Automating volume processing in order to dedicate time to human aspects

Our Customer Service employees spend a great deal of time interacting with the various IT applications. To achieve their mission, they very often have to perform various re-entries or copy-paste data from one window to another, or have to compare and verify information from multiple applications. This can cause errors and prevent them from dedicating time to their key objectives, such as providing support to our partners and customers, or undergoing ongoing training to increase the skillset of each employee and so provide a better service.

“In a few years, many volume-based processes will be automated. Serving as a single point of contact for our partners and customers, we will be able to devote more time to our relationship with them, to providing support and follow-up on files, especially for complex cases which are becoming increasingly common. In this context, our added value lies in our knowledge and our know-how.” Thomas Sainz, Customer Services Department Manager.

Therefore, OneLife has recently begun using robotic automation for certain repetitive volume-based tasks which have little added value. This initiative involves developing and implementing “software robots” to perform the process between the various systems, instead of employees, in order to save time and free up employees to focus on key transactions for our partners and customers.

= > Are you a OneLife customer?

Find out the various features of our secure portal ‘yourassets’!

=> Click on the icon below.

Continuous training of our employees

The life insurance sector is very broad. To deliver a quality service, our employees not only have to stay abreast of the latest regulations in Luxembourg, but also those at European level and in all markets where we operate.

Moreover, these activities require technical and financial knowledge that must be kept constantly up to date.

“Constant changes in regulation on a national, European and international basis, combined with the increasingly sophisticated needs of wealthy clients who are becoming more mobile, require real expertise from cross-border life assurance specialists such as OneLife.
The knowledge and understanding of our teams as well as a truly pragmatic approach to digital are the key elements of a successful all-round client experience, based on the two priorities which we value most – quality and trust.” Eric Lippert, Chief Operations Officer.

To achieve this, OneLife regularly organises trainings to ensure that its employees’ knowledge is as complete and up-to-date as possible.

Contact our Customer Services

For all new transaction requests (new contracts, additional payment, arbitration, redemption, etc.) and any administrative changes to a contract (change of beneficiary, address, etc.), click => here;

For all questions and information requests, click => here.