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Crown Global: Our Products – US Persons

by nhamnahm

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Crown's products consist of private placement variable life insurance and annuity contracts where the management and custody of insurance account assets are in the hands of the world's most trusted asset managers and custodians. This permits a client to couple the benefit of traditional insurance products with exceptional account and fund managers.

 

US Persons | A US Person (resident and non-resident) can purchase compliant life and annuity products provided the products adhere to the applicable regulations related to insurance. Crown can provide insurance products for US persons but must adhere to strict state and federal regulations. Specifically, Crown does not conduct meetings, discuss terms or market products in the United States. All interaction with Crown must be done in our offices outside the United States. Any proposed policyholder must consult their personal legal, financial and tax advisers as to legal, financial, tax and related matters concerning their election to purchase any policy.

The term 'United States person' means:

  1. A citizen or resident of the United States;
  2. A partnership created or organized in the United States or under the law of the United States or of any State;
  3. A corporation created or organized in the United States or under the law of the United States or of any State;
  4. Any estate or trust other than a foreign estate or foreign trust; or
  5. (See Internal Revenue Code section 7701(a)(31) for the definition of a foreign estate and a foreign trust)
  6. Any other person that is not a foreign person.
  7. ** cf. IRC 7701(a)(30) and Treas.Reg. 1.1441-1(c)(2)
  8.  

The term "Foreign Person" means:

  1. A nonresident alien individual;
  2. A corporation created or organized in a foreign country or under the laws of a foreign country;
  3. A partnership created or organized in a foreign country or under the laws of a foreign country;
  4. A foreign trust;
  5. A foreign estate, or
  6. Any other person that is not a U.S. person.
  7. **cf. Treas.Reg. 1.1441-1(c)(2)

*We provide insurance solutions for US and Foreign persons

US Specific | Crown can issue several types of Variable Life Insurance policies. These can range from traditional Modified Endowment Contracts (MEC) and Non Modified Endowment Contracts (Non-MEC) to Limited Cash Value policies. Crown has policies designed to be compliant with Sections §7702, §7702A and §7702(g) tests of the Internal Revenue Code.

The policies are flexible premium variable life insurance contracts designed for high net worth, qualified investors who wish to provide regulated, compliant protection for their families, but who seek broader investment opportunities. Premiums less policy expenses are directed to a wide range of investment options and enjoy the favorable tax treatment of life insurance contracts.

Crown's products allows policyholders to safeguard their wealth and enhance it through a secure, institutional platform. All policyholder assets are maintained in a segregated account insulated from Crown's general liabilities and creditors. Additionally, offshore life insurance contracts can provide personal asset protection for the policyholder as well.

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