Life insurance not considered important estate planning tool

Hannah Godfrey
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Life insurance not considered important estate planning tool

Nearly half (46%) of those surveyed said they would never take out life insurance as part of their estate planning, and almost three quarters (72%) said they didn't see a need to use life insurance at all according to research by Canada Life.

The insurance provider said this evidence suggested a lack of understanding on how life insurance can be a successful estate planning tool, and felt that a greater education is needed from advisers. The research was carried out in September 2016 and surveyed 1,001 UK consumers aged 45 or over with total assets exceeding the individual inheritance tax threshold of £325,000. Evidence showed many wealthy Brits were ignoring wealth planning tools altogether. Over a quarter (27%) of those surveyed...

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