Section 72 insurance · Ireland
Protect your family’s inheritance.
Plan ahead for inheritance tax with clear, personal advice from Brian Whelan QFA. I compare Section 72 cover from Irish Life, Royal London and Zurich, and show you what the costs and benefits could mean for your family.
Over 30 years in Irish financial services · Advice for families throughout Ireland
Why plan ahead?
Help your family keep what you leave them.
In Ireland, you can inherit up to a certain amount tax-free over your lifetime. Your allowance depends on your relationship to the person leaving you the inheritance. Anything above your available allowance is taxed at 33%. That can leave your family with a sizeable bill—and potentially having to sell property to pay it.
Section 72 insurance helps you prepare for that bill—and can substantially reduce the cost of providing for it. Rather than leaving your family to find the money from their inheritance, you pay regular premiums during your lifetime. In our worked example, €600,000 of cover has an effective cost to the estate of just under €160,000, assuming the second death at age 83.
That means money ready for the tax bill, more of your estate preserved for your family, and peace of mind that you have planned ahead.
Protect their inheritance
Help your family keep the home and other assets you leave them, with less need to sell property to pay the tax.
Reduce the effective cost
The policy payout and the inheritance tax saved on money used for premiums work together to reduce the effective cost to your estate.
Have the money ready
Prepare through regular premiums during your lifetime, with a separate fund for the tax bill and peace of mind for you and your family.
See the difference
A clear comparison makes the benefit easier to see.
In our age-83 illustration, a joint-life second-death policy provides €600,000 for an effective premium cost of €159,799.23.
The effective cost takes account of the inheritance tax the family would otherwise have paid on the money used for premiums.
See the full worked exampleExample: male 55 next birthday, female 55 next birthday, both non-smokers. Premium €705.64 a month, guaranteed for life. Age-83 total premiums €238,506.32; tax effect €78,707.09. See the article for the calculation and assumptions.
Personal advice, clearly explained
You do not need to have it all figured out.
You may know the value of your estate but be unsure about the tax bill. You may be wondering whether Section 72 cover is worth the cost, or how it would work for the two of you.
That is where I can help. We start with your family’s circumstances, look at your options and work through a comparison you can understand.
- Clear explanations and time for your questions.
- A comparison of Irish Life, Royal London and Zurich.
- A personal report showing the costs and benefits.
- Help with the application and putting your cover in place.
Your next steps
From a first question to a clear plan.
Tell me a little about yourselves
Complete the quote request, or call if you would prefer to talk first.
See your personal comparison
We review your figures and compare cover, premiums and the benefits for your family.
Choose the cover that suits you
I explain the options and guide you through the application and insurer’s requirements.
Common questions
A few useful answers to start with.
You do not need to be an insurance or tax expert to take the first step.
Explore all Section 72 FAQs →What is Section 72 insurance?
It is life insurance arranged to provide money for an inheritance tax bill. It helps your family fund the tax on what they inherit.
Why joint-life second-death cover?
For couples leaving assets to each other first and to their children later, the policy pays on the second death—when the inheritance tax arises in that plan. Read the simple explanation.
Do I have to cover the whole tax bill?
No. You can choose an amount of cover that fits your plans and the monthly premium you are comfortable paying.
How much will my policy cost?
The premium depends on the amount of cover, your ages, health and smoking status. A personal quotation shows what cover would cost for you.
Can I see the figures before deciding?
Yes. Your personal report can show the premium, the payout, different payment periods and a clear with-and-without comparison.
Learn at your own pace
Start with the questions that matter to you.
How Section 72 cover works
A straightforward introduction to the policy and its role in inheritance planning.
Understand the basics →What do the premiums provide?
Follow the numbers and see how the financial benefits fit together.
See the comparison →Current inheritance tax allowances
Get to grips with the current CAT allowances and a simple family example.
Read the current guide →Make the next step a simple one
Let’s see what would work for your family.
Get your Section 72 quotation and a personal comparison, or call me to discuss the questions on your mind.
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