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However, it can also apply to couples in which the survivor would be financially stricken by the income lost through the death of a partner, and to dependent adults, such as parents, siblings or adult children who continue to rely on you financially.
Make significant charitable contributions By making a charity the beneficiary of your life insurance, you can make a much larger contribution than if you donated the cash equivalent of the policys premiums. Life Insurance Written In Trust Saves Millions
By Catherine Harvey
 Taking out a life insurance policy shows consideration and love to your nearest and dearest. It means you have the peace of mind that comes with knowing that, as much as possible, life for them will go on without added financial burden.
However, many people are making the mistake of not writing these life insurance policies in trust. This means that any life insurance payouts will be added to the inheritance of your family and could take them above the nil rate band for inheritance tax.
If a life insurance policy is written in trust this will enable the sum to be excluded from the overall estate of the policy holder, freeing it from inheritance tax liability. It also has the ability to speed up payouts, whether or not it would be liable for the extortionate tax.
Recent changes in the law mean that assets worth 300,000 pounds for individuals and 600,000 pounds for couples are the limit before any tax liabilities. Any assets over that amount would be subject to inheritance tax at a rate of 40%.
The latest figures to be released show that over the course of one year, 11,000 insurance policies worth a total of 597 pounds million were subject to inheritance tax. Had all these policies been written in trust, you can be quite sure that inheritance tax would not have been applicable on any of them.
Will reading and distribution of assets can be a notoriously lengthy procedure. This can be put a huge financial strain on the family. With life insurance policies that are written in trust would be paid out immediately, making things a whole lot easier.
Not putting life insurance policies in trust is costing customers millions of pounds every year in unnecessary inheritance tax. Apparently, only 10% of people write their life insurance in trust. Even if you already have a life insurance policy in place, it is possible to easily put it in trust.
Whether you purchase your life insurance over the net, over the phone or through a shop, they should all come with the chance of writing in trust. It seems odd that so few people take up this opportunity. Maybe it is a case of not getting the right advice?
Life insurance comparison websites abound but there is concern that they are not serving the customer well. It has been found that many people will take out the cheapest life insurance but this doesn't necessarily mean that is the one that is most suitable to their circumstances.
The British Insurance Brokers Association have called for the Financial Services Authority to overhaul regulations regarding these insurance comparison sites. They believe that when people check out these sites, they barely take notice of the policy details, just the price. They even take this price comparison as 'advice'. This is a good case of cheapest not always meaning best.
Whatever happened to people taking responsibility for themselves? Surely, if they take out a policy without concerning themselves with the details, they are throwing their money away. Many people take out a life insurance policy with their mortgage as is necessary but instead of shopping around will go with the mortgage providers own insurance simply because it is easier.
Take control, by all means shop around to get the best life insurance deal, but don't take one purely on the cost of the policy because it may not help very much right at the time when it is most needed.
Legal expert Catherine Harvey looks at how we can benefit from life insurance policies written in trust. To find out more please visit http://www.theidol.com/
The Effect Of Current Lifestyles On The Heart
By Catherine Harvey
 The importance of stress on general health and well being has long been documented. It's not possible to die of 'stress' but it's perfectly possible to die of the knock on effects. Indeed, many cancer sufferers claim great health improvements in a lifestyle change to reduce stress after a diagnosis. It's not something life insurance companies seem to take much notice of.
You can fill in a medical form and look perfectly healthy on paper that this doesn't say how stressed you are.
They do take into consideration the job you do. Risky jobs come with higher life insurance premiums but would your average office worker be considered risky. Maybe not but how does your life insurance company know how much long term pressure you may be under?
Life insurance premiums are also dependant on our age. However, scientists have found that with the lifestyles of today, our hearts are actually five years older than us, so to speak. In smokers, this age difference amounts to fifteen years.
Increasingly unhealthy appetites, more frequent drinking and a distinct lack of exercise are all symptoms of our stressful lives and are all signs that we, or our nearest and dearest, will soon be making a claim on our life insurance.
Higher incomes mean more people have the means to eat out, consuming calories at a very high rate of knots which are usually laden with fat and sugar. It is also a sign of current lifestyles that people are becoming less inclined to cook a healthy meal from scratch.
Where they get these statistics from is beyond me. I'm now in the best job I've ever had with a huge improvement on wages and still there is far too month at the end of my wages. I don't overeat, in fact for half the month I barely eat at all! And I can only afford alcohol occasionally, unfortunately!
I must be doing something wrong however, as it is a well known fact by life insurance companies that obesity is becoming a growing problem among the UK population. This itself brings a huge strain on all the bodies organs, the heart in particular, and life insurance premiums will increase with over the top weight gain.
When you consider that in the UK, someone suffers a heart attack every two minutes, then we really need to be addressing this issue and taking more care of our hearts. And it is so easily fixed! Gently bring in exercise such as taking the stairs instead of the lift or escalator, walk to the paper shop instead of driving even getting up to change channels on the TV instead of using the remote - it all adds up.
Diet is also one of the important things to keep an eye on for a lengthy life and low life insurance premiums. Another area that is simple to rectify. Eat until you are satisfied, then stop. Sounds obvious but this is not something many of us are good at. Eating on the run, whilst working or while reading or watching TV is a big mistake and leads to many extra pounds.
Because we are not concentrating on what we are eating, it's gone before we realise it and it's often more than we actually need. Concentrate on your meal, enjoy every mouthful and stop when we have had enough. Easy measures that anyone can incorporate.
Of course, one of the biggest heart destroys is the dreaded weed. Give up smoking and your heart will love you for a long time.
Health expert Catherine Harvey looks at the prevalence of stress on life insurance policies and health in general. To find out more please visit http://www.theidol.com/
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