A top life insurance tip to save some people 40% tax and ensure their policy pays out with the minimum of fuss. Only applies to the UK.
It's simple, always have your life insurance policy "Written in Trust". This may sound technical but it is easy to understand and it's so easy to organise.
"Written in Trust" ensures that in the event of a claim, the policy will pay directly to the beneficiaries you name on the policy when you first take it out. If you do not do this, the policy will payout to your legal estate and this inevitably means that the money stays in your solicitor's hands for some time.
