Hello,
I was wondering if someone can assist in clarifying the below.
I currently have two life policies both of which were put into trust last year.
One was for 100k and the other was for 150k.
I would like to take out further life insurance I.e a separate policy region of 200k.
Bearing in mind the nil rate band on chargeable lifetime transfers do I need to wait another 6 years before placing the new policy which I plan on taking out into trust?.
I am mindful that collectively the policies will be in excess of 325k and if placed into trust would be within 7 years.
Any clarification is greatly appreciated.
Thanks
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