Key features

Questions, Answers and Key Features 

 

What is a Bequest Direct Inflation-linked Cash plan?

 

It's straightforward, cost effective, with a fast payout.  Our plan enables you to make a single payment or pay in a little money each month, over a period of time of your choice, to build up a Cash Sum.

 

The Cash Sum earns inflation-linked interest for life and when you die it is paid to the recipient you have nominated to receive it within 24 hours of a payout request, without them having to wait fr the distribution of your estate.  It ensures loved ones have an inflation-linked cash sum when it's needed.

 

Why start a plan?

    • It is a simple way to leave a cash sum gift to loved ones.
    • It can provide financial support when you are no longer around.
    • It can be a cost effective way to pay funeral costs, enabling your money to go further.
    • It can help cover any unpaid household bills.
    • Leave a charitable legacy gift without it coming from your estate.

 

What are the key benefits of the plan?

    • Pay money in and when you die it pays out a cash sum direct to the recipient you have nominated.
    • Never pay in more than is paid out.
    • Paid within 24 hours of a payout request, without the recipient having to wait for the distribution of your estate, so it is available when it’s needed.
    • The plan locks in today’s prices as it is inflation-linked.
    • The recipient does not have any rights to the Cash Sum until your death.
    • You can cash-in your plan at anytime.

 

What will I pay?

Pay in an amount that is right for you. You can pay this amount by making a single payment, or by paying monthly instalments (payments are known as "Contributions") over a period of time of your choice, up to 20 years.

 

Where does my money go?

We don't money manage ourselves, we trust that to BlackRock inc, and utilise their managed funds for growth and asset protection.  With their sustained record of performance BlackRock are trusted to manage more money than any other firm in the World.  (Based on £5.12 trillion in assets under management as of 30/9/2016).

 

How much is paid out?

The total sum of Contributions paid at the point of death. From the date all Contributions have been paid, simple interest at the rate of inflation (United Kingdom’s corresponding CPIH divided by 12) is added to the Agreement's Cash Sum for every full subsequent calendar month until the point of death.

 

If I choose to pay money in by instalments what happens if I stop paying them?

If any contribution is not paid when due or within the thirty days' grace allowed, or if not paid at all, it may result in the Agreement paying less than the amount stated in the Schedule and pay only an amount equal to the total of the Contributions you have paid.

 

How many recipients can a plan have?

A plan can have one recipient. 

 

Why should I do this now and not when I am older?

With savings rates low you could get better value for money by putting your money in place now, fixing today's prices as the plan is inflation-linked.  Local Authority Social Care services are rarely free and savings can be quickly eroded in later life if you require support.  It is prudent to set aside money.

 

Can I change my mind?

You have 14 days to change your mind from the date you entered the agreement.  The Agreement will continue if you don't send a cancellation notice within that time.  If you do change your mind and don’t want the plan, we will give you your money back.

 

Can I cancel and cash-in my plan?

Yes. You can cash-in your plan at anytime and receive 70% of what you have paid in back.

 

If I choose to pay by instalments what happens if I stop paying them?

If any Contribution is not paid on the due date or within the 30 days grace allowed we will cancel your plan and repay to you 70% of what you have paid in back.

 

How does my nominated recipient receive the plan's Cash Sum?

For the plan's Cash Sum to be paid out to the nominated recipient your executor should call or email the support team.  They will be asked for a death certificate.  Once requested documents have been accepted payment is made direct to your nominated recipient within 24 hours.

 

How to contact us

If you have any questions, at any time, you can always telephone or email us

 

Call us on: 0800 022 3225

 

Email us at: cs@bequestdirect.co.uk

 

Bequest Direct
71-75 Shelton Street 
London 
WC2H 9JQ

 

This document gives a summary of the bond Agreement. You should also see the full terms and conditions.

 

All products are provided by Inter MCL Services Series LLC.

 

As a responsible organisation we take financial regulation, compliance and data protection seriously.
Acknowledgment by the United Kingdom Financial Conduct Authority (FCA) of Inter MCL Services Series LLC, it’s cells and independent agents promoting specified products and services to UK consumers was received on April 27th 2018.