Should your policy be written “in Trust”?

We believe that all Life policies should be written “in trust”.

STEP 1 of 2
Type of cover
Life Insurance       Mortgage Life Insurance
 
Cover Level (£)

Number of years
Do you want:  
Critical illness cover
Family income benefit
 

Hot Topics

What is Life Insurance?
Life Insurance is also known as Term Insurance.
What personal details do you need to provide to get a quotation for Life Insurance?
Only your date of birth, sex and whether you're a smoker. So it's really simple to get an immediate quotation.
Should you consider Mortgage Life Insurance instead?
Only if you have a Repayment Mortgage and want insurance cover for it.
Should you include Terminal Illness Insurance?
You probably won’t need to - most policies include Terminal Illness cover free of charge on all Life and Critical Illness policies.
Should the cover be on joint lives or separate lives?
It may be better to buy separate policies.
If you have your policy written “in trust” and you were to die, the proceeds would be paid quickly and directly to the person you intended and will not form part of your taxable estate.

This makes certain that the money from the policy avoids inheritance tax. This could mean a tax saving of 40%. (Incidentally, inheritance tax is not an issue on estates passing between spouses as these are automatically exempt of inheritance tax.)

 

Frequently Asked Questions related to the above topic.
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