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Whole-of-life Assurance is a type of life Assurance which ensures that when you die your loved ones will receive a lump sum pay out from your insurer. It does not matter when or where the death occurs. Whole-of-life policies are guaranteed to pay out at some point in the future. As a result this is a more expensive form of life cover. If you are looking for less expensive life cover, you may be better off considering term assurance.


What is it?
Inheritance tax is payable on nearly all assets transferred from one generation to the next such as property, shares, pension and life insurance benefits with a small number of exemptions.

Inheritance Tax is a form of Capital Acquisitions tax and is levied at a rate of 33% on sums received over prescribed thresholds.


Whole of Life Cover
A Section 72 policy is an inheritance tax planning tool. It allows for an inheritance tax liability to be provided for in a highly tax efficient manner hence easing the burden of transferring wealth from one generation to the next.

Technically a Section 72 policy is a whole of life policy set up to meet the requirements of Section 72 Capital Acquisitions Tax Consolidation Act 2003.

This makes the proceeds of the policy exempt from inheritance tax.

Inheritance Tax Calculator

Calculate now what you may need to put away for later.

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