When someone inherits money, property, or other assets like land after death, they must pay inheritance tax to the government. The individual who receives the asset is the one who must pay the 33% tax.
Wives, husbands, and civil partners who survive do not fall into this group. They are exempt from paying inheritance tax.
Your Whole of Life insurance can be used to partially offset any inheritance tax you may owe.
Never forget that we are here to help with any queries you may have about whole life insurance and inheritance tax.
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Repays mortgage if the insured dies or suffers a terminal illness.Learn More Get Quote
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Ensures a regular income for the insured who is unable to work.Learn More Get Quote