Chapter 2- Financial Protection Needs Flashcards
1
Q
What are the 5 different categories or areas where there is a need for protection
A
Health,incapacity, accident Income, mortgage and other debt Death Asset protection Business protection
2
Q
Can redundancy be insured
A
No
3
Q
What is the nil rate band for IHT
A
£325,000
4
Q
What is the additional main residence nil rate band in relation to IHT
A
£100,000
5
Q
how does divorce affect insurance policies
A
No. Effect unless the court orders he transfer of an existing policy
6
Q
What do some insurers offer to divorced couples to save the need to get new policies which maybe less beneficial
A
Policy splitting
