Life Insurance - A realised Asset?

I am becoming increasingly flabbergasted by the sheer volume of clients I speak to daily that are quitre innocently of the opinion that if they die, their life insurance pays out to their loved ones.  WRONG.  Is this the fault of the Banks, Building Societies and various Meerkats?  Likely to be yes.

Life insurance poorly sold is a grievance waiting to happen.  The client dies within the term of their policy and the family are expecting the money promptly to:

• Pay for the funeral
• Pay off the mortgage before the house is repossessed
• Fund the children's upbrining
• Afford the costs of living

And NONE of this is achieved.  Why?  Becuase the the policy owner wasn't advised to have their policy written into Trust.  Instead, the death benfit/realised asset that is the Life insurance, pays into the deceased's estate and is subject to the same delays caused by Probate/Confirmation as all their other assets and liabilities.  The solution?

Free, impartial advice at Simple Financial Planning on 0800 433 2075.

Ensure:

• The right money makes it into
• The right hands
•  At the right time.