Resolve Riffs Investment Podcast Unlock Hidden Portfolio Wealth with Private Life Insurance with Riccardo Gambineri and Frank Seneco
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May 9, 2025 Riccardo Gambineri, President of Crown Global Life, and Frank Seneco, President of Seneco Global Advisors, dive into advanced wealth planning through private placement life insurance (PPLI). They discuss the diverse regulatory frameworks between the U.S. and U.K., revealing strategies for asset protection and tax deferral. The guests explore the benefits of investment flexibility within PPLI, emphasizing its potential for high-net-worth families. They also compare cost structures, highlighting PPLI's advantages over traditional options for diverse portfolio management.
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Definition and Nature of PPLI
- Private Placement Life Insurance (PPLI) combines life insurance with an investment component and varies by jurisdiction.
- In the US, PPLI is tied to private placement rules, while outside US it's more about tailored investment options.
Onshore vs Offshore PPLI Differences
- US onshore policies have strict regulatory filings limiting customization under state insurance laws.
- Offshore policies in Bermuda allow broader investment manager flexibility while maintaining US tax compliance.
Use Offshore for Asset Protection
- High-risk professions in litigious environments benefit from offshore policies due to stronger creditor protection.
- Offshore policies shield assets better and delay creditor access compared to domestic policies.