Inheritance Tax Life Assurance Section 72 Plans

Inheritance Tax

Your family may be liable to pay Inheritance tax on your assets when you die. In Ireland, inheritance tax is known as Capital Acquisitions Tax (CAT) and is a 33% tax on gifts and inheritances received, with allowances based on the relationship to the deceased.

The primary inheritance tax policies involve utilising your lifetime tax-free threshold, with different thresholds depending on the beneficiary's relationship to the deceased. 

An Inheritance Tax Liability can be a massive burden on your beneficiaries, it could see them having to possibly borrow money or sell part of their inheritance you leave them to cover their CAT Tax bill.

A Section 72 policy is a specific type of life assurance that provides a lump sum upon your death to cover the Capital Acquisitions Tax (CAT) liability of your beneficiaries it removes this CAT Tax burden and protects your loved ones from a large inheritance Tax bill.

Whole of life Cover can be taken out by anyone aged between 45 and 74 years of age.

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