Whole life plan and funeral plan

Goodfellows24

Just wanting confirmation on a zurich whole life plan, payable to children (adults) upon parents recent death. I have been told this does not form part of the Estate? £19000 worth
Also a funeral plan taken out, this will be used to pay for the funeral but thinking excess would add to estate figure. £6000 total
Thank you for any help

Marcon

Goodfellows24 said:

Just wanting confirmation on a zurich whole life plan, payable to children (adults) upon parents recent death. I have been told this does not form part of the Estate? £19000 worth

Who told you? In the absence of any details, your informant is likely to be a better source of information than anyone here, provided of course that they know what they are talking about. Was the policy written in trust, in which case it won't normally form part of the estate. If in doubt, check with the insurer.

Goodfellows24 said:

Also a funeral plan taken out, this will be used to pay for the funeral but thinking excess would add to estate figure. £6000 total
Thank you for any help

Not usually, even if the plan pays out more than the costs of the funeral. Again, the provider should be able to give you an immediate answer in relation to this particular plan.

Goodfellows24

Thank you, yes the policy was in trust, will check with the funeral plan provider

madbadrob

Marcon uses his favourite line on this board of you will get better advice from the people who set up these than anyone on this board.  For once i couldnt disagree with him.  The information you have provided is insufficient for anyone here to give you any advice that is reliable.

Zurich would be a good place to start.  They gain nothing by telling you wrong information.  Just remember though advice today can be wrong tomorrow if the government decide to change the rules