Planificación patrimonial
Whole of Life Plan
Cobertura garantizada para toda la vida, constituida en trust para que el capital asegurado pague una deuda conocida por impuesto de sucesiones sin que la familia tenga que vender un activo para financiarla.
Glendalough, Co. Wicklow · Superbass, CC BY-SA 4.0
Para quién es
Clientes con una deuda tributaria sucesoria conocida y cuantificada
Qué hace
- Primas garantizadas y capital asegurado garantizado
- Una sola vida o dos vidas al segundo fallecimiento
- Se emite en trust para que la prestación quede fuera del patrimonio hereditario
- Opción de indexación para acompañar el crecimiento de la deuda
El producto en detalle
When an estate faces a known tax liability and its value is tied up in things that cannot be sold quickly — a farm, a business, a house the family lives in — the problem is not the liability. It is that the liability falls due before the asset can be turned into money, and the family sells in a hurry at a bad price.
A whole of life plan written in trust solves that specific problem. The sum assured is paid on death, to trustees rather than to the estate, so it arrives outside the estate and it arrives promptly. The family uses it to meet the liability and keeps the asset.
Everything about this contract is guaranteed: the premium does not change and the sum assured does not change, for as long as premiums are paid. That is why it costs more than the reviewable alternative — the insurer is carrying the risk that the cost of the cover rises over forty years, rather than passing it back at a review. For a liability that will certainly arise, most clients would rather know the price.
Joint life second death cover is the common basis for a married couple, because that is usually when the liability crystallises. An indexation option keeps the sum assured moving with a growing estate, which matters over the decades these policies run.
Documentación
La documentación de producto se facilita a los intermediarios acreditados. Pídala a su suscriptor o solicítela mediante el formulario de consulta.
- Documento de características principalesA petición
- Formulario de solicitudA petición
- Escritura del trustA petición
Cómo funciona
Qué ocurre, en orden
Desde la primera consulta hasta el momento en que la cobertura, el contrato o la línea queda en vigor.
The liability is quantified
By the client’s own advisers. The sum assured should be a considered figure, not a round number.
The basis and the lives are chosen
Single life, or joint life second death. Minimum sum assured £100,000.
The lives assured are underwritten
Medical and, where relevant, financial underwriting. The premium is then guaranteed for the life of the policy.
The plan is written in trust at outset
So the proceeds are payable to trustees rather than into the estate. Doing this at outset avoids a later assignment.
On death, the trustees are paid and meet the liability
Promptly, and without needing a grant of probate to reach the money.
Las cifras
Un ejemplo resuelto
Cálculos ilustrativos, para que la forma del producto se vea en lugar de describirse. Nada de lo que aquí figura es una oferta ni una proyección.
A £400,000 liability on an illiquid estate
A couple aged 68 and 66, joint life second death, on illustrative terms.
- Estate valueMostly a working farm and the family home
- £2,600,000
- Liability quantified by the client’s advisers
- £400,000
- Sum assuredGuaranteed, and it does not change
- £400,000
- Modalidad
- Joint life second death
- Illustrative guaranteed monthly premium
- £640
- Written in trust
- At outset
- Assets the family would otherwise have to sell
- None
Illustrative and not a quotation — the premium depends entirely on the ages, the health and the underwriting outcome of the actual lives assured. Not tax advice: the liability figure comes from the client’s own advisers, and so does the decision that insuring it is the right response.
Guaranteed premiums against a guaranteed sum assured
Cumulative premiums paid on the illustrative plan above, against the £400,000 the plan pays whenever death occurs.
Ver estas cifras en una tabla
| Valor | |
|---|---|
| Year 5 | £38k |
| Año 10 | £77k |
| Year 20 | £154k |
| Year 30 | £230k |
Idoneidad
Dónde encaja Whole of Life Plan
Los casos que resuelve, los que no, y lo que un suscriptor necesita antes de tarificar.
Es la respuesta adecuada cuando
- A known, quantified liability on an estate that cannot be liquidated quickly.
- Clients who want the cost fixed for life rather than reviewed.
- Married couples where the liability arises on the second death.
Conviene mirar otra cosa cuando
- A client whose priority is the lowest entry premium — the Flexible Life Plan is cheaper at outset.
- A temporary need with an end date; whole of life cover is not the efficient answer to that.
- Sums assured below £100,000.
Lo que necesitamos para tarificar
- 1.The lives assured, their dates of birth, and completed applications.
- 2.Medical underwriting, and financial evidence for larger sums assured.
- 3.The trust deed, and the liability figure from the client’s advisers.
Preguntas
Lo que los corredores nos preguntan sobre este producto
Why write the plan in trust?
So the proceeds are paid to trustees rather than into the estate, which means they are not themselves part of the estate and can be reached quickly. Writing it in trust at outset avoids a later assignment.
Are the premiums really fixed for life?
Yes, for as long as premiums are paid. That guarantee is the difference between this plan and the Flexible Life Plan, and it is what the higher premium buys.
What does indexation do?
It increases the sum assured, and the premium with it, on the basis set at outset — so a policy taken out against a liability of £400,000 does not become inadequate as the estate grows.
Solicitar información
Consúltenos sobre Whole of Life Plan
El formulario llega a un suscriptor en Dublín. Si es intermediario, indíquelo y lo dirigiremos a la mesa de corredores.