We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
halifax investment death benefit
mercedes125
Posts: 402 Forumite
Could somene please tell me if someone invested £20,000 6yrs ago and it is worth £25,000 now how much would the death benefit be if the person that invested it past away.
Thankyou
Thankyou
0
Comments
-
Depends entirely on the plan.
Some will pay the larger of current value or 105% of the sum invested.
So don't expect more than £25k.0 -
opinions4u wrote: »Depends entirely on the plan.
Some will pay the larger of current value or 105% of the sum invested.
So don't expect more than £25k.
Ok thanks, this is what it says on the plan
The death benefit is payable on the death of the life covered. The benefit paid out will be the greater of either the value of the plan on the next valuation after we are notified of the death of the relevant live covered, or the total amount invested adjusted for any withdrawals made from the pla0 -
As it's largely based on a future valuation (which could go up or down, depending on market performance), you are unlikely to be told a specific figure.mercedes125 wrote: ».......on the next valuation after we are notified of the death of the relevant live covered.....0 -
Also, many investments are transferable in situ and dont need to be encashed on death. The executor just completes a stock transfer form and names the beneficiary and the investment become theirs.
Certain tax wrappers have exceptions to that or require a different process.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.8K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.6K Spending & Discounts
- 247.6K Work, Benefits & Business
- 604.6K Mortgages, Homes & Bills
- 178.6K Life & Family
- 262.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards