Life Insurance. Special Urgent Alert
Gordon Brown's latest budget has changed the tax rules on life
- Critical Illness Insurance. Big changes on the horizon
- Critical illness insurance is beginning to price itself out of the market. But moves are afoot to bring in Menu Pricing. This will enable you to select which illnesses you want to insure against and you simply pay for that level of cover. This article explains.
- Insurance Are you covered and don't realise it?
- It might be worth checking whether you are forking out for two different insurance policies that cover you for exactly the same thing. Selling duplicate insurance policies is, after all, how some companies make their money.
- Giving up smoking will increase your wealth
- You'll save more than the cost of the cigarettes if you stop smoking. The cost of your life and critical illness insurance premiums should be cut by half.
- Low Cost Life Insurance
- An introduction on how to find and qualify for cheap life insurance
- Critical Illness Insurance and Life Insurance Cover for Better and for Worse
- What does critical illness insurance do? This article explains.
- Mortgage Protection. Easing your biggest concerns.
- Most homeowners have life insurance to repay their mortgage if they were to die. But death is only one of many risks. What other risks threaten your mortgage and how can they be offset? This article investigates and offers some solutions.
The new rules introduced at the recent budget mean that even if your policy is written in trust and there is a claim on your policy, { loans } your estate will have to pay a tax charge of up to 6% on the value of the payout that comes above the IHT threshold of £285,00. This new rule applies from 5 th April 2006.
Whilst this new tax is not to be welcomed, the new tax is only 6% which is still better than the 40% your estate would have to pay if your life insurance policy had { remortgages } not been written in trust. So, we believe that it is still worthwhile writing your life insurance policy in trust.
Having said that, there is { medical insurance } now a danger that the tax charge of up to 6% could mean that there is insufficient IHT free cash generated by your policy to achieve your financial objective. If this is the case, don't take any action just yet.
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