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Buying_Life_Insurance__One_tip_to_save_you__thousands_
1 pages
Published by
wells elin
Buying Life Insurance? One tip to save you thousands!
Its simple, always have your Life Insurance policy Written in Trust.
This may sound
technical but it is easy to understand and its so easy to organise.
Written in Trust ensures that...
[More]
Buying Life Insurance? One tip to save you thousands!
Its simple, always have your Life Insurance policy Written in Trust.
This may sound
technical but it is easy to understand and its so easy to organise.
Written in Trust ensures that in the event of a claim, the policy will pay directly to
the beneficiaries you name on the policy when you first take it out.
If you do not do
this, the policy will payout to your legal estate and this inevitably means that the
money stays in your solicitors hands for some time.
Yes, that implies legal delays and, of course, your solicitor takes a small cut!
Then, if the value of your taxable estate exceeds 275,000, and remember your home
can easily account for the lion s share of the 275,000 limit without much difficulty,
your estate will have to pay Inheritance Tax.
This represents 40% of the estates
taxable value in excess of 275,000.
So, if your estate has to pay Inheritance Tax and
the proceeds of your life policy go to your estate, the taxman
[Less]
Tags
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legal,
life,
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mortgage,
paid,
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policy,
sound,
taxable,
trust,
written
