Taking account of future changes The advice process can naturally take some time, from multiple client meetings, research and product selection, to the underwriting journey. IHT planning will typically be undertaken for older clients who’ll likely need to go through an underwriting journey. This may require a nurse screening or a doctor’s report, even for relatively modest sums assured at older ages. L&G can insure your clients to cover their full IHT needs, including their future increased liabilities caused by these changes. You don’t have to wait until the changes take place, by which time the client will be older and may have further medical details to disclose. As part of a holistic financial planning conversation, it is important to explore protection solutions that can provide longterm security and peace of mind for clients and their families. Whole of Life product as a potential option allows clients to consider how they may meet future liabilities, such as inheritance tax, while ensuring a guaranteed payout whenever death occurs. 9 By asking open questions about estate planning objectives, legacy wishes, and family protection needs, advisers can naturally identify whether a Whole of Life policy may form a valuable part of the client’s overall financial strategy. In short, you can put in place valuable protection cover today to include the increased liabilities that will be caused by agricultural and business properties and / or pension schemes. You have dedicated support at L&G to help you through this process. Our BDMs are onhand to help you. They can put you in touch with the underwriting team before you apply so you know the likely underwriting requirements and outcomes for particular disclosures. Legal & General Assurance Society Limited. Registered in England and Wales No. 00166055. Registered office: One Coleman Street, London, EC2R 5AA. 1Office of Budget Responsibility
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