UK Life insurance

Joined
Mar 20, 2018
Messages
1
Reaction score
0
Country
United Kingdom
My man passed away and had £128000 in personal investment plan with Halifax and there saying could be worth £500000 so have to pay capital gains? Really don’t understand as if we’re not getting latter amount why should we pay what could be worth?
 

bklynboy

VIP Member
Joined
Oct 12, 2011
Messages
595
Reaction score
112
Country
United States
Not following this. Life insurance proceeds are free from income tax (may be subject to an estate tax but I believe spouses are exempted). What type of policy is this and what do these numbers represent? The only way I can see that the numbers are different is that the 128 is the deat hbenefit and the 500 is the cash value which includes dividend reinvested to buy more insurance. You really need to talk to a financial planner and share the documents with them to understand what is going on here.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Members online

No members online now.

Forum statistics

Threads
11,684
Messages
27,655
Members
21,542
Latest member
hireus4steamcleaning
Top