Most of us prefer not to think about what happens after we pass away, but taking care of our loved ones by making sure they don't face considerable financial costs at a time of loss is a thoughtful act.
Here at Vita we are authorised to provide advice and make recommendations for you - so please get in touch so we can discuss your options and present you with a free Report, detailing advice and quotations for you to consider.
This policy type has no end date and is used for many reasons including: to leave a guaranteed sum of money to cover an Inheritance Tax bill, pay for funeral expenses, or simply leave a nest-egg for loved ones.
As the name suggests, this type of insurance provides cover for the duration of your life, rather than for a fixed term. This means that, whenever you die, your loved ones will receive a cash sum no matter what happens.
Examples of the benefits of a Whole of Life policy are:
Provide a guaranteed lump-sum to help fund funeral costs
Leave a guaranteed lump-sum for loved ones
To contribute towards Inheritance Tax
Both the monthly premiums and the cover amount can be fixed so that you know exactly how much you will pay for the duration of the policy and also how much your loved ones will receive in the event of the claim.
You also have the option to increase your cover amount in line with inflation - however your monthly premiums will naturally be increased as a result. Our friendly Advisers are experts, able to answer any question you have and also make recommendations. For free impartial advice and tailored quotes call us now on 0800 988 36 37, or if you're busy request a call back. We'd love to help you.
Over 50s Life Cover (Guaranteed Acceptance)
Also a form of 'Whole of Life Cover', typically better value for people with pre-existing medical conditions. It's a quick and simple way of arranging Life Cover without any medical questions, helping to cover funeral costs, unpaid bills or leave a legacy for loved one.
Over-50s Plans are a popular way to provide a cash lump sum to help with funeral costs, unpaid bills or leave a gift for grandchildren or loved ones.
Guaranteed acceptance for anyone aged 50 to 80
No medical questions to answer
Guaranteed pay out whenever you pass away (no end date to the policy)
Affordable low-cost premiums
Few of us like to think about what happens after we pass away, but taking care of loved ones by making sure they don't shoulder a financial burden at a time of loss is a thoughtful act.
Over-50s policies leave your family a cash amount, from £500 up to £36,000, or even more. If you are in good health then you can apply for Whole of Life Cover, where there is no limit on the amount of cover you can have and the premiums may work out cheaper.
To speak with one of our friendly Advisers, who will be happy to discuss your options and provide you with a quote from one of the UK's leading insurers, please call us on 0800 988 36 37 or get a quote.
Gift Inter Vivos
A special type of Life Insurance, designed specifically to match the Inheritance Tax (IHT) liability on gifts you make that HMRC could consider a Potentially Exempt Transfer (PET).
If you gift assets away to loved ones other than a spouse, there's a risk that if you die within 7 years that you will leave behind a large tax bill. To make it worse, the tax man will be collecting from the people who received the gift rather than from your estate. The tax bill could be difficult to pay, especially if the gift is something tangible, such as property.
Gift Inter Vivos is a special type of Life Insurance, designed specifically to match the Inheritance Tax (IHT) liability on gifts you make that HMRC could consider a Potentially Exempt Transfer (PET).
The policy lasts for seven years and the amount of cover will decrease in line with the IHT liability on the gift you have made. If you die within the policy term, the cover amount will be paid to your beneficiaries as a tax-free lump sum, which they can use to cover any remaining IHT liability on your gift.
To speak with one of our friendly Advisers, who will be happy to discuss your Gift Inter Vivos options and provide you with a quote from one of the UK's leading insurers, please call us on 0800 988 36 37 or if you're busy request a call back.
Did you know
of all Whole of Life Cover claims were paid in 2020 (ABI report)
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