# ppli.si — ppli.si — Private placement life insurance around the world

> Compare PPLI and PPVA across Singapore, Bermuda, Luxembourg, Liechtenstein, Ireland, Cayman and the US: asset protection, investment rules and tax.

- Operator: 小坡险助手 / Xiaopoxian Advisory Desk
- Content lead: Stella 武晓旭 (Stella Wu Xiaoxu), Associate Director, Everest Group — a group of financial consultants representing Great Eastern Financial Advisers Private Limited
- Contact: WhatsApp +6580670032 · Email wuxiaoxu1020@gmail.com · WeChat sgwealth888
- Updated: 2026-10-24

## What PPLI is — and what it is not
- [What is PPLI? Private placement life insurance and PPVA explained across jurisdictions](/overview/): PPLI is privately offered variable life insurance whose value tracks a custodied investment account. How it works, its costs and risks, and how PPVA differs.
- [Ten common misconceptions about PPLI — and what the rules actually say](/misconceptions/): PPLI is not a tax exemption, not invisible to CRS and not a licence to run your own portfolio. Ten common claims checked against statutes and rulings.

## Seven booking centres side by side
- [PPLI jurisdictions compared: Singapore, Bermuda, Luxembourg, Liechtenstein, Ireland, Cayman and the US](/compare/): A like-for-like table of seven PPLI jurisdictions: regulator, asset segregation, policyholder priority, investment rules, client eligibility and reporting.
- [Luxembourg PPLI: the triangle of security, super-privilege and dedicated funds](/luxembourg/): How Luxembourg's triangle of security and super-privilege work, what they do not guarantee, and how CAA Circular Letter 26/1 governs unit-linked funds.
- [Liechtenstein and Ireland: two EEA alternatives to Luxembourg for unit-linked PPLI](/liechtenstein-ireland/): Liechtenstein's beneficiary-entry rules under its Insurance Contract Act and Ireland's personal portfolio life policy rules, compared with Luxembourg.
- [Bermuda and Cayman PPLI: segregated accounts, insurer classes and US-facing carriers](/bermuda-cayman/): How Bermuda's segregated accounts and insurer classes, and Cayman's Insurance Act and portfolio structures, frame PPLI, plus the US §953(d) election.
- [Singapore as an Asian PPLI booking centre: rules, protections and limits](/singapore/): How Singapore frames privately placed life policies: accredited investors, ILP rules, PPF limits, nominations and CRS/FATCA, and what it does not offer.
- [US domestic PPLI: insurance-dedicated funds, investor eligibility and how it differs from offshore PPLI](/us-domestic-ppli/): US domestic PPLI is sold privately to accredited investors and qualified purchasers, invests via insurance-dedicated funds and must pass §7702 and §817(h).

## Who holds the assets, who chooses them, who is protected
- [How PPLI asset protection works — and where it stops](/asset-protection/): PPLI asset protection has three layers: segregation from the insurer's creditors, custody arrangements, and limited shelter from the holder's own creditors.
- [Investment flexibility in PPLI: eligible assets, dedicated funds and the investor-control line](/investment-flexibility/): What can sit inside a PPLI account and who chooses it: Luxembourg fund types, US §817(h) diversification and insurance-dedicated funds, and investor control.
- [Carrier and custody arrangements: who holds the assets, who manages them, who answers for what](/carriers-and-custody/): A role-by-role map of PPLI: carrier, custodian bank, investment manager, policyholder, trustee and adviser, the documents that bind them and what to check.

## Reporting, fit and the steps to put a policy in place
- [PPLI tax compliance: CRS, FATCA, US §7702 and §817(h), and home-country rules](/tax-compliance/): What reporting follows a PPLI policy: CRS and FATCA cash value contract rules, US tests for US persons, Irish PPLP rules and avoidance disclosure.
- [Who PPLI suits: five illustrative cross-border scenarios and when it does not fit](/scenarios/): Five hypothetical, anonymised cross-border cases: why families consider PPLI or PPVA, which jurisdiction questions arise, the risks and who to involve.
- [How a PPLI policy is put in place: from jurisdiction choice to annual review](/process/): Eight steps to set up a PPLI or PPVA policy: eligibility, tax advice, jurisdiction and carrier, KYC and source of wealth, custody, funding and review.

## FAQ, glossary and sources
- [PPLI and PPVA: frequently asked questions](/faq/): Straight answers on PPLI and PPVA: definitions, jurisdictions, asset protection, investment control, CRS and FATCA, US tax tests, process and suitability.
- [PPLI glossary: 45 terms across jurisdictions (English–Chinese)](/glossary/): Definitions of PPLI and PPVA terms across Luxembourg, Liechtenstein, Ireland, Bermuda, Cayman, Singapore and the US, each with its Chinese equivalent.
- [Sources and official documents](/sources/): Official statutes, regulator pages and rulings used on ppli.si, grouped by jurisdiction, with publisher, title, date and link. Secondary sources labelled.

## 中文摘要版
- [私募寿险（PPLI）的资产保护如何运作，边界又在哪里](/zh/asset-protection/): PPLI 资产保护分三层：与保险公司债权人的隔离、托管安排，以及针对保单持有人自身债权人的有限保护。
- [百慕大与开曼私募寿险（PPLI）：隔离账户、保险公司类别与面向美国客户的承保人](/zh/bermuda-cayman/): 百慕大的隔离账户与保险公司分类、开曼的保险法与投资组合结构如何构成 PPLI 的法律框架，以及美国 §953(d) 选择。
- [承保人与托管安排：谁持有资产、谁管理资产、谁对什么负责](/zh/carriers-and-custody/): 按角色拆解 PPLI：保险公司、托管银行、投资经理、保单持有人、受托人与顾问，约束各方的文件，以及选择承保人前应核查的事项。
- [私募寿险（PPLI）承保地比较：新加坡、百慕大、卢森堡、列支敦士登、爱尔兰、开曼与美国](/zh/compare/): 七个 PPLI 承保地同口径对照表：监管机构、资产隔离、保单持有人优先受偿顺位、投资规则、客户资格与申报要求。
- [私募寿险（PPLI）与私募变额年金（PPVA）常见问题](/zh/faq/): 用中文回答私募寿险 PPLI 与私募变额年金 PPVA 的 15 个常见问题：定义与账户价值是否保证、卢森堡安全三角、列支敦士登与百慕大的资产隔离、新加坡 PPF、投资者控制、CRS 与 FATCA 申报、适合人群与投保流程。
- [PPLI 术语表：跨辖区 45 个术语（中英对照）](/zh/glossary/): 卢森堡、列支敦士登、爱尔兰、百慕大、开曼、新加坡与美国的 PPLI 与 PPVA 术语释义，每个术语均附中英文对照。
- [PPLI 的投资灵活性：可投资产、专属基金与投资者控制红线](/zh/investment-flexibility/): PPLI 账户里可以放什么、由谁来选：卢森堡的基金类型、美国 §817(h) 分散要求与保险专属基金（IDF），以及投资者控制原则。
- [列支敦士登与爱尔兰：卢森堡之外的两个欧洲经济区单位连结 PPLI 选项](/zh/liechtenstein-ireland/): 列支敦士登保险合同法下的受益人进入合同规则，与爱尔兰个人组合寿险保单（PPLP）规则，并与卢森堡对照比较。
- [卢森堡私募寿险（PPLI）：安全三角、超级优先权与专属基金](/zh/luxembourg/): 卢森堡的安全三角与超级优先权如何运作、它们不担保什么，以及 CAA 通函 26/1 如何规管单位连结保单所连结的基金。
- [关于私募寿险（PPLI）的十个常见误解，以及规则的真实规定](/zh/misconceptions/): PPLI 不是免税工具，不能躲过 CRS 申报，也不等于可以自己操盘。本页把十种常见说法逐一对照法规与裁决进行核查。
- [全球私募寿险（PPLI）比较：七个承保地一页看懂](/zh/): 私募寿险（PPLI）是只向合资格投资者私下发售、保单价值随托管投资账户浮动的变额寿险。本页用中文概述新加坡、百慕大、卢森堡、列支敦士登、爱尔兰、开曼与美国国内七个承保地的法律机制差异、三层资产保护的边界、投资者控制红线，以及 CRS/FATCA 申报与适合人群。
- [PPLI 保单如何落地：从选择承保地到年度检视](/zh/process/): 设立 PPLI 或 PPVA 保单的八个步骤：资格确认、税务意见、承保地与保险公司、KYC 与财富来源、托管、注资与年度检视。
- [PPLI 适合谁：五个假设化跨境场景，以及不适合的情形](/zh/scenarios/): 五个假设化、匿名的跨境案例：家庭为什么会考虑 PPLI 或 PPVA，会遇到哪些承保地问题，有哪些风险，以及需要哪些专业方参与。
- [新加坡作为亚洲 PPLI 承保中心：规则、保护与边界](/zh/singapore/): 新加坡如何规管私募发售的寿险保单：认可投资者、投资连结保单规则、PPF 保障上限、受益提名与 CRS/FATCA，以及新加坡不提供什么。
- [资料来源与官方文件](/zh/sources/): ppli.si 所引用的官方法规、监管机构页面与税务裁定，按辖区分组，列明发布机构、标题、日期与链接；二手资料单独标注。
- [PPLI 税务合规：CRS、FATCA、美国 §7702 与 §817(h)，以及居住国规则](/zh/tax-compliance/): PPLI 保单会带来哪些申报义务：CRS 与 FATCA 下的现金价值保险合同规则、美国人须通过的美国测试、爱尔兰 PPLP 规则与避税安排披露。
- [美国国内私募寿险（PPLI）：保险专属基金、投资者资格以及与离岸 PPLI 的区别](/zh/us-domestic-ppli/): 美国国内 PPLI 私下发售给认可投资者与合格购买人，通过保险专属基金投资，并须通过 §7702 与 §817(h) 测试。

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## Network
- [iul.sg](https://iul.sg/): iul.sg — Singapore IUL comparison platform
- [iul.com.sg](https://iul.com.sg/): IUL Academy — how indexed universal life works
- [vul.sg](https://vul.sg/): vul.sg — Variable Universal Life in Singapore
- [vul.com.sg](https://vul.com.sg/): VUL Singapore — the variable universal life guide
- [vul.hk](https://vul.hk/): vul.hk — VUL in Hong Kong vs Singapore
- [term.com.sg](https://term.com.sg/): Term Life Insurance in Singapore
- [term.hk](https://term.hk/): term.hk — Term life in Hong Kong vs Singapore
- [wholelife.com.sg](https://wholelife.com.sg/): Whole Life Insurance in Singapore
- [wholelife.hk](https://wholelife.hk/): wholelife.hk — Whole life in Hong Kong vs Singapore
- [ppli.com.sg](https://ppli.com.sg/): Private Placement Life Insurance (PPLI) Singapore
- [ilp.com.sg](https://ilp.com.sg/): Investment-linked Policies (ILP) in Singapore
- [saving.sg](https://saving.sg/): saving.sg — Savings insurance in Singapore
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- [xiaopoxian.com.sg](https://xiaopoxian.com.sg/): Xiaopoxian Encyclopaedia — Singapore insurance explained
- [vccfund.sg](https://vccfund.sg/): vccfund.sg — Singapore Variable Capital Company guide
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- [hnw.sg](https://hnw.sg/): hnw.sg — HNW wealth planning in Singapore
- [hnwi.sg](https://hnwi.sg/): hnwi.sg — The HNWI landing handbook for Singapore
- [hnwsolution.sg](https://hnwsolution.sg/): hnwsolution.sg — HNW solutions: insurance, family office, private banking, wealth
- [hnwsolution.com.sg](https://hnwsolution.com.sg/): HNW Solutions Singapore
- [privatebank.hk](https://privatebank.hk/): privatebank.hk — Private banking guide, Hong Kong × Singapore
- [bankaccount.sg](https://bankaccount.sg/): bankaccount.sg — Opening a bank account in Singapore
- [bankaccount.com.sg](https://bankaccount.com.sg/): Singapore Bank Account Guide
- [bankaccount.hk](https://bankaccount.hk/): bankaccount.hk — Hong Kong bank accounts and the HK × SG comparison
- [vccfund.si](https://vccfund.si/): vccfund.si — Singapore VCC vs global fund vehicles
- [sgvcc.com](https://sgvcc.com/): sgvcc.com — Singapore VCC for family offices and founders
- [vccsg.com](https://vccsg.com/): vccsg.com — Launching and operating a fund in a Singapore VCC
- [xiaopoxian.si](https://xiaopoxian.si/): Xiaopoxian Q&A — 200 questions on Singapore insurance and wealth
- [insurancesg.si](https://insurancesg.si/): insurancesg.si — The expat guide to insurance in Singapore
- [insurancehk.si](https://insurancehk.si/): insurancehk.si — The Hong Kong insurance landscape

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