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Taking life insurance for my daughter
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I wonder what £200k will be worth when she's 80. I wonder what £11k invested into a SIPP will be worth in 62 years.
Could someone shed the light about trust and future beneficiaries?Hard enough to know what the government will do about trusts and beneficiaries in the next 5 years. I don't think anyone will want to offer an opinion significantly further in to the future.
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Please advise further.
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£13 pm for next 62 yrs, which takes her to +80 yrs with £200k on death wt protected premiums. She is my only kid.
Using the average UK inflation rate for the last 70 years £200,000 of today's value would be worth £8,876 in 62 years' time.
You would need approximately £2,253,000 in future, money to equate to £200,000 today.
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
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