Summary

Far too few people get their life insurance policy "Written in Trust". This article explains the overwhelming advantages.

Life Insurance. Should your policy be written in trust? Page 2

Author: Michael Challiner

Is there a catch? No - all the documentation is standard and is provided totally free

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Life Insurance News

of charge by the life insurance company. Your broker through whom you buy the policy, should complete the documentation for you, again free of charge. All you have to ( mortgage quotes ) do is give the details of the beneficiaries to the broker and sign the form. Solicitors are not required. In the event of a claim, the life insurance company then has to pay out directly to the beneficiaries. Job done! Poor Mr Taxman!

Even if your policy is designed to repay a mortgage, it should be "Written in Trust" for your partner. Then, rather than your estate receiving the money and using it pay off the mortgage, the money can be paid directly to your partner. This saves legal delays, solicitor's and probate fees and loads of hassle. Your partner can then use the money to personally pay ( term assurance ) off the mortgage. Whether this also saves you Inheritance tax will depend on the value of your estate and how you have structured your Will.

So we believe that a life insurance policy "Written I Trust" is a win win ( life insurance quotes ) situation. And there aren't many of those around these days! We can't see any drawbacks.

Bye the way, no matter what you decide to do, always ( cheap home insurance ) ensure that you have an up-to-date Will.