Pre-paid Life Assurance Claims Fee

Providing peace of Mind

Atkinson Bolton Consulting Limited take a great deal of pride in the service that we offer to all clients, but particularly in stressful circumstances, when we believe we are able to provide exceptional service, in a calm, efficient and indeed discreet manner.

This is never better illustrated than in the event of a client’s death, when we assist family members, professional advisers sometimes lenders, and of course the survivors, often including trustees (professional or personal) and beneficiaries etc., with the often difficult task of completing the financial requirements for probate.

We have recently introduced a fixed claims fee for dealing with all life assurance policies on a client’s death. This is fixed at only 1% of the sum assured. We will carry out all of the work required in dealing with a claim on that policy including appropriate collection of certificates, certifying copies, dealing with all of the professional advisers involved and of course the insurance company, for this fee, and now incorporate this fee at the time of establishing new policies.

This means that, in the event of a client taking out a policy for £100,000 or more, we will add 1% to the sum assured at the outset, and will provide, with the policy documentation, our written guarantee that we will deal with the claim on that policy in the event of such a claim arising, for that fixed 1%.  We think you will agree that this provides peace of mind now for our clients, and at a difficult time (i.e. in the event of a claim) for their family.

To illustrate how this might work, and what we think is the outstanding value of this route, please read on. A male, aged 40 next birthday, non-smoker, takes out a life assurance policy for £200,000, on a level term basis, for 20 years. The monthly premium (March 2006) is £22.20. Taking the option above, we arrange the policy with a sum assured of £202,000, again level term for 20 years, and the premium increases to only £22.39 per month – an increase of 19 pence per month, or less than 1% of the premium, for the peace of mind that, in the event of a claim, his beneficiaries will have no concerns as regards either the processing of the claim, or any costs associated with it*. Indeed, depending on other areas that we are dealing with for the deceased client’s estate, this 1% Pre-paid Claims Fee™ may cover other costs incurred, all paid for by the client’s foresight, now!

VAT may be charged on top of the 1% fee, depending on HM Customs & Excise rules in place at the time the fee becomes due – we are unfortunately unable to allow for this within our Pre-paid Claims Fee™.

April 2006