In the event of life claim all the, difficult, admin needs to be completed to alert the insurance company there has been a change and an event. A difficult conversation and process at a super horrid and emotional time.

For many those life insurances or monies have specific tasks like – stability to pay the Mortgage so the family home is home! Monies for funeral, for the living costs of the day to day and many more reasons.

Many families do not appreciate that probate needs to be agreed to unlock life insurance and all the assets of the estate. Probate as process is started when the estate is over £5,000 money. These monies will not be release until probate is agreed. On large estate’s this may also mean the family needs to pay inheritance tax before the estate is also released!

Probate on average takes 9 months as an administration process. Which is not the quickest at again a rather difficult time.

Golden Rock Solutions works with our families to ensure we can mitigate this time delay where possible. We do this by (when the life protection is live) setting up “trust”. This is a free process and a little like a sign post which ring fences the insurance policy out of probate, out of the time delay and importantly out of the inheritance tax implications. Meaning in the event of claim when the life protection is in trust family typical get the monies in circ 10 days (which is the time to do the admin) rather than 9 months!

Golden Rock solutions is not just a company whom strive to get the right protection initially but the correct solution going forward. A cheap solution which doesn’t work when you need it isn’t very good right – who would by a cheap possibly faulty parachute! Golden Rock Solutions strives for both a relevant and cost effective solution to purchase and a swift yet tax efficient to support family in the event of claim.

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