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Bond Owner different to Life Assured Considerations

DaleLucasDaleLucas Member
in Technical stuff

Hi All,

Technical help please!

Joe Bloggs is aged 88, he is therefore too old to be a life assured on a Prudential Investment Plan (Onshore Bond).

I believe that the Joe could still be the owner as there appears to be no age limit on ownership, and could use someone under 85 as the life assured.

Could anyone please let me know what considerations to look out for where owner and life assured are not the same on an Onshore Bond.

Thank you

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Comments

  • les_cameronles_cameron Member

    All having the extra life assured does is mean the bond will continue when the owner dies ( assuming they predecease). So really only consideration I can think of is the owner will not be liable for any chargeable event taxation if he dies when the bond is still inforce - it'll be whomever inherits the bonds liability.

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