Ask if your insurer can offer policy design and elements imaginative policyholders may need. Bermuda insurance provisions and a Private Bill statute can provide significant protection to policyholders along with annual actuarial and audit requirements, yet without a regulatory bureaucracy that significantly constrains the quality and increases the costs of policies to its policyholders. Estate planning Insurance policies offer better advantages than a trust and are superior to drafting a will. The death benefits may avoid the process of probate and help ward off potential lawsuits from dissatisfied heirs. Drafting an insurance policy can also be cheaper than a trust or a complicated will.
Insurance is an element of estate planning.
But many advisors may not have explored the global advantages available to their clients and accepted the constraints associated with many onshore jurisdictions. The insurance policies of a good Bermuda company can allow a policyholder to avoid problems. Exchange controls Many countries enforce various types. Residents of such jurisdictions are constrained from moving certain types of assets outside. Select a place where you have freedom.