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Zurich offering IHT alternative

Zurich has launched a new guaranteed whole-of-life plan, to be marketed as an alternative estate planning tool.

The firm says although clients will pay a higher pre-mium for the guaranteed rate than a reviewable rate, it off-ers the peace of mind that many will people need when carrying out their estate planning.

The Zurich adaptable life plan has a minimum contribution of £16 a month and is designed with both private and corporate clients in mind. It is available on a single life, joint death, joint life first death or joint life second death basis.

Zurich says gifts are sub- ject to the client surviving seven years while death planning via a will might impact on the estate of the surviving spouse or partner.

The adaptable life plan can be written into either an absolute or discretionary trust to provide funds for the family to pay the client’s inheritance tax bill.

Zurich protection management director Peter Hamilton says: “Inheritance tax is in the public consciousness as never before.

“There are various ways to mitigate potential IHT liab- ility but for some people ens-uring funds are available to pay the tax will be the most appropriate and useful route. A whole of life plan with the right trust advice can be a powerful solution.

“Offering the guaranteed rates alongside our existing reviewable rates will provide customers with greater choice based on their individual needs as this kind of protection becomes an increasingly important area of the financial planning process.”


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