Life insurance provides vital financial support to your children when you are no longer there to care for them yourself. It is usual to assume that if you have put the correct insurance into place, your kids will have no financial worries at a time when money should be the last thing on their minds.
Life Insurance Written Into Trust
However, if your life insurance becomes part of your estate when you die, all the funds contained within it will be subject to probate. This could mean that your children have to wait up to six months to be able to claim the funds you have left them, even if the estate is completely uncontested.

Furthermore, if there are issues with the will or their claim is disputed, the time it takes for them to benefit from the arrangements you have made can be considerably longer.

Such a delay in payment could severely impact any member of your family. Consider how they will support themselves or continue with their own lives if they cannot access the funds that you have left for them.

In addition, any claim on the estate has to be made through a formal charge. Such a process can take further time but can also incur significant fees which eat into the nest egg that you thought was going directly to them.

Also don’t forget, any funds included within an estate are subject to inheritance tax. This means the total value of your fund could be eroded by as much as 50% before your kids even see a penny.

However, there is a quick and easy solution which solves all of these problems. All you have to do is fill in one simple form.

How to Place Your Life Insurance into Trust

By placing your life insurance into trust you can effectively ring fence the money that has been allocated to your family members.

It will protect them from long time delays before they are able to receive the money and will negate all probate fees. In addition, the funds contained within the trust will avoid your estate entirely and will therefore not be subject to any inheritance tax.

Simply by filling in the relevant form, you can directly nominate the people you’d like to receive the benefits from your policy. This will enable your beneficiaries to be paid, quickly and directly so that they receive all the benefits that you had intended for them.

Furthermore, this process should cost you nothing at all. Here at Insuranet we will offer this service completely free of charge. So if you are considering taking up life insurance, then ask us for your policy to be placed into trust for those that you really care about.

If you already hold an insurance policy, talk to your provider and ask them to send you the relevant forms so that you can make the arrangements now.

Putting your life insurance into trust is not difficult, time consuming or expensive but the difference it can make to your children is unforgettable.

To speak with one of our friendly advisers about life insurance and trusts, please call us on 0800 799 9330 or visit our life insurance comparison page here.

Useful resources:
The Law Society website explains the process of Probate –

Life Insurance With High Blood Pressure

High blood pressure, or hypertension, is a very common condition in the UK where an individual experiences consistently increased blood pressure levels over a long period of time.

In the UK alone the National Health Service estimate that one quarter of all adults have high blood pressure that might benefit from treatment. And for those over the age of 60, this statistic rises to approximately half of all people living in the UK.

Life Insurance With High Blood Pressure

Here at Insuranet we have many years experience in arranging life insurance for people with high blood pressure

Though a potentially serious condition if left untreated, most people with hypertension can manage their situation effectively through a mixture of exercise, diet control and medication. However, as with any serious medical condition, such a situation can have a severe impact on your ability to find the right insurance policy. But it can be done!

Shop Around

The most important thing to do when you suffer from any medical condition is to ensure that you search the market and find the most suitable policy for your own personal situation.

Many standard insurance companies can offer life policies to people suffering from high blood pressure while other companies specialise in offering cover for those with hypertension.

Internet comparison sites can give you an indication of premium costs, but it is only when you drill down into the finer detail of your own personal situation that you can truly understand what the terms will be.

For a clearer picture of the range of policies available, please contact us as we have extensive knowledge of a broad range of policies and can guide you through the process.

Read the Fine Print

When buying life insurance with high blood pressure, the key to a high quality policy is in the fine print. Make sure you are fully aware of the exclusions of the contract and any extenuating circumstances that will not be covered. Protection may depend on regular medication or other personal circumstances, and these should be clear before you take up the cover.

If you have any concerns about anything within the terms of the policy then please talk to us as we will be able to walk through the paperwork with you and help you understand the finer points of the policy.

Be Honest

A significant proportion of life insurance claims that are rejected are due to incorrect information being included on the application form. This can be due to deliberate fraud or a complete oversight on the side of the applicant. So make sure your policy is going to be valid when you need it the most.

Though you may think that withholding information makes insurance cheaper, if you have paid years of premiums only for the claim to be rejected after you have gone, your policy just becomes a very expensive piece of paper with no benefit at all.

Be Flexible

If your insurance company requests further information either by way of access to your medical records or via a specific medical investigation then agree whenever you can. The more information your insurance provider has, the more tailored your policy will be to your own individual situation.

Providing supporting evidence to your answers or taking the time to complete further questionnaires can ensure all qualifying factors are met during the application process and actually make your premiums lower than you would think.

For those that say you cannot get life insurance if you have high blood pressure, we say you are wrong. High quality, well priced policies are available for many people who suffer from this common condition and, with the right advice, it is possible to find the one for you.

Please see our dedicated high blood pressure life insurance page here for further details.

Alternatively you can compare quotes here.

Life Insurance Premiums To Rise In 2013

The ongoing cost of both health and life insurance could rise by up to 30% in 2013 as a set of newly created tax rules are fully expecting to hit insurance profits.
Life Insurance Premiums Set To Rise
For the first time in over an estimated 10 years, the cost of life insurance is expected to rise significantly.

Because of this, many financial advisors and insurance brokers are advising people that if they need cover then they should buy it before the prices rise.

It has been widely reported that new European legislation which is due to come into force at the end of this year will make it compulsory for all insurers to offer unisex rates on all types of insurance including critical illness cover. This is expected to significantly increase the cost of insurance for women as their premiums are usually less as they are more likely to not die early and therefore make a claim on their insurance policy.

What a lot of people won’t realise is that new tax rules will be rolled out and implemented at the same time which will force up the cost of insurance right across the board and any gains which men might see from potentially cheaper unisex rates will effectively be wiped out by the new tax.

At the moment, UK insurance providers are permitted to offset any costs of their life insurance business against any profits which they have made on their investments. However, during the last budget it was announced that a new legislation was to be introduced which will effectively close down this loophole.

Whilst this may provide more tax for the treasury, it is likely to increase insurance costs for life insurance providers which in turn is expected to be passed on to the consumer.

Over 50 Life Insurance

Over 50 life insuranceNot so long ago, 50 years of age used to be considered old and was regarded as a milestone age but that is simply not the case  now days.

As we are generally living longer and healthier lifestyles, being 50 is still classed as being middle aged to most people and because of this you can now find some great rates on over 50 insurance.
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Cheap Life Insurance Quotes

Acquiring life insurance quotes doesn’t have to be expensive. You are able to acquire cheap life cover, particularly if you’re of a younger age and in a good current state of health. If you are of a younger generation who doesn’t smoke tobacco products and you don’t have any health issues then finding affordable Life Insurance Quotes should be simple. Not all life insurance policies are the same and they do not offer the same level of cover, because it can differ between each insurance provider as to how much your premiums are, it always pays to shop around for your quote to find the best deals and to save money.
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Welcome to our life insurance blog

Hello and welcome to the insuranet blog.

Here we will be posting insurance related articles and all the latest news & views from within the market.
We will be covering everything including life insurance, critical illness, income protection, mortgage life insurance and much more.

Please check back soon.