Whole of life cover provides your dependents with a lump sum in the event of your death. Beneficiaries of an estate may have to pay tax on their inheritance. It is possible to take out a life assurance policy to meet inheritance tax liabilities. This policy is known as a section 72 policy. Guaranteed whole of life cover can be set up as a section 72 policy which means it can be used to provide life assurance cover to meet the amounts of inheritance tax that beneficiaries will have to pay on their inheritance.
Grant Thornton Financial Counselling Limited is the Financial Planning arm of the Grant Thornton practice in Ireland and has offices in Dublin and in Limerick.
Grant Thornton Financial Counselling Limited is regulated by The Central Bank of Ireland. Registered office: 24-26 City Quay, Dublin 2. Company registration no. 102489.
Grant Thornton is authorised by The Institute of Chartered Accountants in Ireland to conduct investment business under the Investment Intermediaries Act 1995.