• company insurance for director | John Lamb Hill Oldridge

Key person insurance for a company director

The client was a 42-year-old non-smoker who was resident in the UK and who was the director of a company. The client had bought out his business partner via an equity fund. The company’s board had decided that the individual needed to take out key person insurance to protect the business, as there could be significant consequences if he were to die unexpectedly or be incapacitated by illness.

  • assissting a couple | John Lamb Hill Oldridge

Assisting a couple facing a potential large inheritance tax liability by arranging suitable life insurance

The clients were a couple, both in their 60s, who were British nationals and resident in the UK. The couple’s estate is valued at £10 million. Their individual nil rate bands of £325,000 each could not be used in this case, and they were therefore facing the prospect of inheritance tax of 40% being charged on the full amount once the second client died, which would mean a £4 million IHT bill for their nearest and dearest at that time.

  • Providing life insurance with a high sum assured for a non-domiciled individual | John Lamb Hill Oldridge

Providing life insurance with a high sum assured for a non-domiciled individual

The client is in his 40s, resident in the UK, but not considered to be domiciled in the UK. His family lives in Kuwait. We were unable to obtain sufficient cover for this client in the UK market because, although he had extensive investment income, he did not have any earnings from employment or self-employment in the UK as his business was still in the start-up phase. For this reason, he was referred to a US-based broker with whom we have worked closely on many occasions.

  • Convertible Term Policy To Cover A Pre-nup Payment | John Lamb

Convertible Term Policy To Cover A Pre-nup Payment

The client is a man his 30s, UK resident and a non-smoker. As a condition of his pre-nuptial agreement, his spouse was entitled to receive a £10 million payment were he to pass away. Much of his family’s wealth is tied up in trusts, and by seeking life insurance, the client was seeking to avoid a potential claim that would disrupt the family’s investment strategy by forcing them to liquidate their positions at an inopportune time.

  • Arranging Life Cover To Mitigate Any Potential IHT Liability Should A Client Die After Making A Gift | John Lamb

Arranging Life Cover To Mitigate Any Potential IHT Liability Should A Client Die After Making A Gift

The female client was in her 70s and was both resident and domiciled in the UK. The client wished to make a gift of £11 million to her children. After using her nil rate band, the potential inheritance tax liability on the gift was calculated at more than £4 million – the size of this gift meant that there was no question of being able to use any of the available gift allowances

  • Assisting A Couple Facing A Potential Large Inheritance Tax Liability By Arranging Suitable Life Insurance | John Lamb

Assisting A Couple Facing A Potential Large Inheritance Tax Liability By Arranging Suitable Life Insurance

The clients were a couple, both in their 60s, who were British nationals and resident in the UK. The couple’s estate is valued at £10 million. Their individual nil rate bands of £325,000 each could not be used in this case, and they were therefore facing the prospect of inheritance tax of 40% being charged on the full amount once the second client died, which would mean a £4 million IHT bill for their nearest and dearest at that time.

  • Arranging A Life And Critical Illness Policy For A Client With An Extensive Medical History | John Lamb

Arranging A Life And Critical Illness Policy For A Client With An Extensive Medical History

Like millions of people across the UK, this 40-year-old client approached us seeking to put in place comprehensive cover to provide funds for their family should they pass away, and to provide funds to meet the costs of medical care and home conversions should they contract a critical illness. The desired sum insured was £200,000. However, obtaining appropriate cover for this client was not entirely straightforward, as they had what could be described as an ‘extensive’ medical history, having had a number of medical issues at different stages of their lifetime.

  • Arranging Life Insurance To Mitigate Inheritance Tax Risks For A Younger Customer | John Lamb

Arranging Life Insurance To Mitigate Inheritance Tax Risks For A Younger Customer

John Lamb Hill Oldridge is proud to be able to assist customers at every stage of their financial journey. In this instance, the client is a 25-year-old man who had been gifted as much as £5 million in non-income producing assets, and who was referred to us by his accountant. As the client had other assets that exhausted his nil-rate inheritance tax band, he was liable for inheritance tax at the full rate of 40% on the entire £5 million, which equates to £2 million.