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Life insurance policy and Trust Deed Help Please

2
Posted 5th Jun
I wanted some advice about life insurance policy and trust deed.

My wife and I recently purchased life insurance policies. Both of us have separate policy but for some reason they have done the plan as joint ownership (presumably to get discount on monthly premiums). Its not a joint policy just joint ownership.

I wanted to put the life insurance in trust deed so its not part of my estate and not subject to inheritance tax for my children.

my children are young so they have to wait till they are 18 to access this.

I wanted advice if policies are separate but joint cover is it still okay and advisable to put it in trust?
Is there any downside to this?
Shall I stop the joint cover? will this be more beneficial then and put insurance in trust.

I have spoken to the broker advisor and the insurance company advisor and have received conflicting information and hence wanted some clarification please.

Thanks
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Go back to the broker and insurance co and insist on clarification. Raise a formal complaint and tell them you will take it to the fca since (at least) one of them is clearly wromg.

You are talking about something with significant financial implications - this is not the time to be taking advice from randoms on a best deal web site.
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Go back to the broker and insurance co and insist on clarification. Raise a formal complaint and tell them you will take it to the fca since (at least) one of them is clearly wromg.

You are talking about something with significant financial implications - this is not the time to be taking advice from randoms on a best deal web site.
Yes, go back to your broker. From the questions you ask, you have been mis-advised/mis-sold. With proper advice, you woudl already know teh answers
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