Two fifths have never heard of writing a life insurance policy into a trust however eight in 10 have assets they want to pass on, research by Legal & General has revealed.
The significant lack of awareness surrounding the legal arrangement of writing a life insurance policy into a trust, which allows a person to gift their policy to beneficiaries when they die, has been totalled up as £99.98bn* worth of risk for UK customers. According to Legal & General, 40% are unaware of the process, while 82% have policies they would like to pass on and 43% do not have a will in place. "It's certainly tempting to avoid thinking about the future, but it's essential to remember...
Launching later in 2019
Considered least important
Research from Canada Life
Putting the tech into protection