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. Recognize that insurance policies are based on contracts between the insurance company and the policyholder. Many domestic regulations do not recognize life insurance as a financial asset. Policyholders resident in jurisdictions that do not impose exchange controls may benefit appreciably.