18 Nov 2019
If the plan was on a last death basis for IHT planning, that probably left you with a dilemma: how do you ensure the money is paid out to the beneficiaries at the correct time?
You could play the odds and apply for a single life policy for just the insurable life. But, if they were to die first the proceeds would be paid out before the IHT became due. That leaves the trustees with some headaches:
Old Mutual Wealth’s solution is simple
If one life is declined Old Mutual Wealth could still offer a joint life last death policy, either guaranteed whole life or rolling term; we simply base the premium on the single life rates for the healthier life.
That way your client’s beneficiaries get the right money at the right time and no-one gets a headache.