New business
CMI Global Investor
CMI Global Investor is an offshore, single premium, whole of life assurance policy.
It is designed to provide income, capital growth or a combination of the two over
the medium to long-term.
CMI Global Investor has been specifically designed for those who have £100,000 or
more to invest. The bond is available for individuals, trustees and companies. Individuals
must be aged between 18 and 89 and must not be a resident or national of the United
States of America. Restrictions may also apply to residents of certain other countries.
For details of our business acceptance criteria, please speak to your usual Clerical
Medical sales contact.
It is available as two versions:
- the Privilege Account for UK and overseas investors, which invests in collective
investments (e.g. unit trusts, OEICs, UCITs, SICAVs and investment trusts) and also
in desposits structured deposits
- the Personal Account, for overseas investors and pension trustees, which offers a much
broader choice of investment (including direct investment in equities and fixed interest
holdings as well as the ability to accept structured funds like derivative-backed Medium
Term Notes)
Because of tax legislation, UK resident investors can only invest in the Privilege Account.
Pension trustees can invest in either the Privilege or Personal Account, as they are not
subject to the same tax legislation as UK residents.
Here is a summary of some of the main features and benefits. Please read our product brochure for more
details.
- Open architecture – the ability to build a truly diverse portfolio of investments
e.g. over 5,000 collective investment schemes from which to choose.
- Access to investment funds from over 170 leading fund managers worldwide.
- A wide range of in-house CMI Insurance funds which are part of Clerical Medical
Investment Solutions (CMIS). These funds range from cash plus through to gilt and
fixed interest, corporate bonds and full equity exposure if required. All in house
funds are available at competitive rates and lower investment minimums.
- Competitive charging structures with a choice of five options to help tailor the product
to differing client needs.
- Discounted investment terms are available on many funds where the assets are held
by CMI Insurance Company Limited. Any annual management charge rebates from fund managers are
credited to the investor’s portfolio in full.
- Gross returns on a large number of onshore fixed interest funds.
- The ability to switch assets without incurring any tax charge (please note tax
rules could change in the future).
- The ability for SIPP and SSAS schemes to use the bond as a platform for pension
investment, giving access to a dealing desk that provides a wider range of investments
- The ability to control the point at which liability to tax arises.
- The ability to remain outside the Personal Portfolio Bond tax regime (depending
on the holdings selected) i.e. it is not classified as a ‘Personal Portfolio Bond’.
The information contained in this website is based on our understanding of current
legislation and HM Revenue & Customs practices, these are subject to change. The
value of the investment may go down as well as up.
Please complete the following steps:
1. Fill in the relevant CMI Global Investor application form:
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Free download so you can view the
document in pdf format.
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2. Complete the anti-money laundering requirements
and enclose the relevant anti-money laundering documents with the application form.
3. Enclose the initial investment with the application form. Please make cheques
made payable to 'CMI Insurance Company Limited' drawn from the applicant's account.
Alternatively, you can send the initial investment by telegraphic transfer or you
can arrange the transfer direct from the applicant’s bank. Please note the applicant’s
bank may deduct a telegraphic transfer charge from the amount sent, which will reduce
the amount invested.
4. Send the application form, financial questionnaire, anti-money laundering documents
and the initial investment to:
CMI Insurance Company Limited
Clerical Medical House
Victoria Road
Douglas
Isle of Man
IM99 1LT
Once we have received all the details needed to set the policy up and the initial
investment, we will issue the policy documents to the correspondence address on
the application form or to the financial adviser if requested. Any commission payable
is credited to the financial adviser’s CMI commission account within 48 hours after
the policy documents have been issued and paid to their bank account in accordance
with current procedures.