A section 72 policy, a type of life insurance policy, you can take out to pay off capital acquisition tax, commonly known as inheritance tax.
It is similar to regular life Insurance in that you take out a policy, you pay your premium, and when you die, your beneficiaries get a tax-free lump sum to be used to pay the inheritance tax due.
If you are a spouse or civil partner receiving an inheritance from your deceased spouse or civil partner, you don’t pay inheritance tax. However, everyone else may be liable for inheritance tax.
At Clear Insurance Ireland, we design the inheritance tax plan to suit your requirements and make it easy to engage with and understand the process.
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