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Legal & General enhances Inheritance Tax offering

23rd September 2009 Print
Legal & General has enhanced its Inheritance Tax (IHT) offer with a competitive re-price of its Whole of Life Protection Plan.

The re-price aims to make Legal & General the most competitive guaranteed premium quote for clients with significant IHT liabilities in the core segment of this market. To further support advisers, on 5 October Legal & General will be making a number of enhancements to its IHT offer to include:

The introduction of a brand new Trust range with supporting completion guides
Adviser Sales aids and new Customer facing materials
A ‘fast-track' processing service for IHT cases with cover over £200,000.

Legal & General's Whole of Life product offers guaranteed premiums throughout life and pays out a lump sum on death.

Bernie Hickman, Legal & General's Managing Director of Protection said: "Inheritance tax planning is an area of the market that only a limited number of advisers are active in, primarily because of the perceived complexity. We're helping to simplify matters with new guides for advisers and their clients to help advisers tap into this valuable revenue stream. This development further enhances our specialist protection range, which aims to provide advisers with alternative sources of income from the traditional mortgage market. Our brand new suite of Trust materials and supporting guides will make writing plans in Trust really straightforward.

Applications for Whole of Life with sums assured over £200,000 will be handled by Legal & General's high net worth team, who specialise in processing and underwriting complex cases.

Bernie Hickman added: "There is a definite market need for IHT solutions that aren't dependent on future investment returns. We have exciting plans going forward with the aim of making Legal & General a major force in the IHT market."