‘Why can’t I give my grandkids £425k from my life insurance?’ | Money

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I have a whole-of-life insurance coverage that I took out in 1975. I paid an annual premium of £1,000 for 42 years till October 2017 when my insurer, Clerical Medical, mentioned that no additional premiums had been required.

Since final September I have been attempting to cancel the coverage so I can entry the give up worth of £425,000. In December I was despatched a pile of paperwork to finish.

The coverage is written right into a belief for the good thing about my kids and grandchildren. My buddy Irene and I are co-trustees. She is aware of my two kids very nicely and her function is solely to make sure truthful play of the life insurance proceeds within the occasion of my dying.

We supplied licensed copies of our passports, driving



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