Life Insurance

The policy may have exclusions (circumstances in which it won’t pay out) which will vary depending on your insurer. These can be due to alcohol, drug abuse, suicide, or deliberate exposure to danger, your adviser will be able to discuss this in more detail with you.

The proceeds of the policy will be exempt from any income or capital gains tax. If you have passed away the proceeds will be paid to your estate which may be subject to inheritance tax (IHT). You can put your policy in to trust to ensure that the proceeds do not form part of your…

Death in service is a benefit that employers provide that is designed to pay out a lump sum linked to your salary on your death, this can be any amount but typically is around 4 times your income. This will only be payable whilst you continue to be employed by that employer and depending on…

Whole of life cover is a type of life insurance, but rather than being for a specific term this policy will continue until death whenever that maybe. These are often linked to an underlying investment, the cost of your policy can often be determined by how well this investment performs.

Life insurance is an insurance for a set term, which is designed to pay out a sum of money to your estate should you pass away during the term of the policy. This can either be paid as a lump sum or monthly benefit. The cost of a policy is determined by a number of…