Policy To Protect Family In Event Of Death Flashcards
1
Q
Level term family income benefit for both
A
Pays tax free sum/income in the event of death
2
Q
Single life policies x2
A
Amounts needed on death may differ
3
Q
Sum assured
A
To be agreed with mike/Shawna, sufficient enough to provide for twins and survivor
4
Q
Term
A
To be agreed with mike/Shawna, until twins age 21 so 7 Year’s
5
Q
In discretionary trust for benefit of beneficiaries
A
Speedy payment, no need to wait for probate, outside state for IHT, control how twins benefit
6
Q
WOP
A
Ensures policy paid on long term illness or disability
