Life Insurance

Not everyone needs life insurance but if your partner, children or other relatives depend on your income to cover a mortgage and other living expenses, you may need to review your affairs and seek advice from an Independent Financial Adviser or other authorised adviser.

Common reasons people consider life insurance 

Getting married/becoming pregnant

Starting a family brings new responsibilities and many people begin to think about how best to protect their family.

Protecting household income
Life insurance can be used to replace lost income to ensure a standard of living is maintained for those left behind.

Protecting a mortgage

Whether you live by yourself, or with a spouse or partner, you may want to buy life insurance as mortgage protection. This will ensure the mortgage is repaid should the worst happen.

Funeral expenses

Funeral expenses, burial cost and medical bills can add up to a large amount. Life insurance can be used to plan for these expenses and you can choose an amount of cover that meets your needs.

Peace of mind
No one can truly predict the future but having life insurance means you and your family are prepared for any eventuality.

Life Policies in Trust

There are two main benefits of putting a life policy in trust, but only a very small percentage of life insurance policies in the UK are set up this way.

Firstly, the provider will be able to pay a claim more quickly as they will just require a death certificate before paying out which means there is no wait for probate. If someone dies and their plan is not in trust, their representatives will have to obtain a grant of representation before they can deal with the policy.


Secondly, the policy may be free of inheritance tax (IHT) which is payable at 40% on any part of an estate valued over £325,000. The gifted benefits would no longer be a part of your estate and would not therefore be subject to inheritance tax. We recommend you get advice from an expert.


Employees pension and ‘death in service’ benefits

These benefits may also be written in trust for similar reasons to life insurance.

Consider a legal professional or a solicitor

to put life policies in Trust.