“Mr S advised us that his father had recently passed away and left his mother with a significant estate. Mrs V was 72 years old and had decided to gift part of her estate to Mr S and his two siblings. The proposed gifts were valued at £3.75M, meaning there could be a potential inheritance tax liability of £1.5M should she pass away within 7 years of making the gift.
Mrs V had a few age-related health issues; however, due to the combination of her age, medical disclosures and the onset of COVID-19, many insurers were unwilling to provide her with a life insurance policy to cover any potential IHT liability. We reviewed the data and recommended a Gift Inter Vivos Insurance policy for Mrs V, which would be cost effective. After extensive research and speaking to senior underwriters, we were able to secure the required level of cover split between two insurance companies. Both the insurance companies requested a nurse medical and a targeted medical report from the client’s GP. Both Mrs V and Mr S were relieved to have obtained a specific Life Insurance policy which provided cover to pay any potential IHT liability.”

“Mr P (aged 62) & Mrs H (aged 58), had built a large property and investment portfolio totalling over £5M. Their professional tax advisers had informed them of a potential IHT liability on their estate. Although they were intending to put £650k out of their estate in a trust, their estate would still have a substantial IHT liability, which they wanted to cover through a life insurance policy. Mr P was suffering from asthma, raised cholesterol and high blood pressure. After conducting our research, we were able to find an insurer who was able to offer them cover with no additional premium loadings or exclusion. We arranged a life insurance policy on a Joint Life Second Death basis and helped to place the policy in a discretionary trust from inception providing them with peace of mind that their beneficiaries would not have to worry about the IHT liability on their deaths.”

“Mr H & Mrs Z were a 50-year-old British couple who had moved to Dubai 5 years ago. They were in the process of purchasing an investment property in the UK. Their tax adviser had informed them that they had an inheritance tax (IHT) liability on the property and one option to make provision for this liability was to consider a life insurance policy, however their residential status could be an issue. We were not deterred by the couples residency status and were able to find a suitable option. An insurance company was able to provide the required life cover ensuring peace of mind that their beneficiaries would not have to worry about the IHT liability on the estate in the event of death.”