Research revealed that one in five people (21%) do not realise their life insurance proceeds could form part of their estate for Inheritance Tax purposes if not held in trust.
The offering aims to address the widespread lack of estate planning among the British public.
Protection specialist Best Insurance, in partnership with mutual insurer Shepherds Friendly, has launched a new single life policy designed to make life cover easier and more accessible for UK consumers.
Legal & General has launched a new online claims portal for single and over 50s life insurance, completing the digitisation of its retail protection claims process.
Beneficiary nomination is a way for a policyholder to name who should receive the policy payout if they pass away. Â
HMRC figures reveal nearly 7,500 families paid inheritance tax on life insurance policies in 2022/23 – despite many bills being avoidable through the use of trusts.
The study showed more than a third of people saw insurance for private hospitals and treatment as essential.
CIExpert has introduced a new dashboard for its Insight Zone, offering advisers centralised access to product updates, claims data and learning resources across CI, IP and life cover.
The survey, carried out by Opinium conducted for Carr Consulting & Communications, examined how political instability can influence financial decisions.
The study found only 7% of divorced individuals discussed life insurance beneficiaries as part of their separation.
The life insurance and critical illness cover provider, which is part of the OneFamily Group, was announced as the winner of the category on Friday.
Advisers can now access detailed information on LV=’s life, critical illness, and income protection products.