Trust

Trusts are a straightforward legal arrangement that allow you to leave insurance proceeds to whoever you pick to be your beneficiaries. Placing a policy in trust can help avoid lengthy and costly probate processes and may help to mitigate Inheritance Tax. The type of trust will depend on the type of policy you apply for and will be chosen & completed according to your intentions. You would have to nominate trustees who will make the claim and distribute the proceeds to your beneficiaries.

Waiver of premium benefit

Waiver of premiums cover your monthly premiums on your insurance policy if you are unable to work as a result of an accident, or injury. The premiums are waived after a deferred period which could be 1, 3 or 6 months depending on the insurer. The premiums are waived until you return back to work or until the expiry date of this benefit.