Don’t just plan – protect your money

Are you confident you have all the relevant cover in place to protect your finances? Having a financial plan should go hand-in-hand with a conversation about insurance. 

The statistics 

We may not like to think about death, but the reality is it is inevitable; however, data has revealed that only 29% of UK adults have some form of life insurance¹. Meanwhile, just 13% have critical illness cover². Even fewer (6%) have income protection, despite one in 13 working people having a long-term sickness³. These figures highlight that a concerning number of Brits risk leaving themselves and their loved ones vulnerable during life’s toughest moments. 

Writing life insurance policies into trust 

Writing your life insurance policy into trust is a tax-efficient way of protecting and preserving your wealth for future generations. This arrangement makes your trustees the legal owners of your policy, so the proceeds will not be considered as part of your estate when you die. Not only does this mean that under current rules the payout will not be subject to Inheritance Tax, but your beneficiaries should receive the money swiftly as it will not have to go through probate. 

We can advise on the best cover for you and your circumstances. 

¹FCA, 2023 

²Health Foundation, 2024 

³ONS, 2023