Do not be put off investing in pensions thinking that you might not get good value for money.  Your residual funds can be passed to your estate usually free of inheritance tax.  There are annuities that can have a remaining capital value for your estate.  These can take the form of a value protected annuity or a private annuity trust. In the former case they will have a minimum purchase price usually greater than £100,000 whilst the latter would be greater than £500,000.

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