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So easy to put life policies into trust

Putting life policies into trust is common sense but sadly not common practice. Many policies are sold without being put into trust although the need for this is greater than ever.

Nobody’s future is certain. With the contraction of the mortgage market, credit scarce and widespread job losses the focus of many customers is turning to addressing their fundamental requirements.

Having trusts in place can provide policyholders with peace of mind – they can rest secure in the knowledge that their intentions will not be undermined.

Trusts can provide speedy claim payment, protection from Inheritance Tax, a choice of beneficial provision and some level of protection in bankruptcy.

They are also seen as complex and time-consuming so in too many cases they are ignored, but they needn’t be. Online submission and underwriting has revolutionised the processing of protection business, enabling instant decisions on applications.

Whether in acceptance or the provision of further information, data is now available every step of the way. It’s possible to write a life policy under trust online at the time of inputting cases, making the process easier and saving time for brokers and clients.

Even if the boat was missed at the outset and no trusts were used, firms now provide trust forms to use with existing clients. This is a valuable opportunity to return to clients and revisit their cover.


AToM partners with GE

All Types of Mortgages, the packager/distributor has revealed that it will remain on GE’s approved packager panel.

Meeting the need for life assurance

Could life assurance save mortgage brokers? An increasing number of intermediaries are benefiting from focussing on a product that nearly everybody needs but too few take out or review.

L&G launches lead service

Legal & General has launched a lead generation service to members of its mortgage network, offering advisers access to prospective clients from external lead suppliers.


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