Life assurance to pay estate taxes

P

puzzled

Guest
hello all,

I have a valuable property as the principle part of my estate, well above the thresholds for inheritance tax.

I don't want my heirs to be forced to sell it to pay the inheritance tax.

I want to take out a life assurance policy - but I guess the proceeds will be taxed as well.

Is there any life assurance that can be taken out specifically for the purposes of inheritance tax that won't be taxed ?
 
C

Conan

Guest
Inheritance

Simple answer is YES.
You can effect a life assurance policy which will not be taxed within the estate in so far as the proceeds are used to pay CAT. These are known as Section 60 policies.
Any good advisor or Life Office can show you how this works.
If the cover is established on a joint life second death basis (i.e the sum assured is only paid out when both parents have died) the cost can be very inexpensive.
 
S

shopper

Guest
sample pricing?

what would 100K of Section 60 cover cost for a male, non-smoker with no known health problems?

Who offers the best deals? Does this cover require a medical exam or can it be bought from a cheaper on-line provider?
 
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