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Zurich whole-of-life plan aids IHT

Zurich is offering a whole-of-life plan with no investment links aimed at helping consumers cover their inheritance planning needs.

The Zurich adaptable life plan, launched on July 19, aims to deliver a cash sum on death. Premiums for £200,000 of level joint-life death cover for a male or female aged 50 next birthday are £115.25 a month.

The plan includes indexation of cover in line with the average earnings index, with no maximum percentage.

It also offers underwriting-free increases where, if inheritance tax legislation changes, the client will not have to repeat medical exams for underwriters.

Over the last five years, house prices have risen by 107 per cent nationally and the IHT nil-rate band has increased by only 12 per cent, meaning that more people will be hit by IHT.

Zurich Protection management director Peter Kelly says: “We have stripped out unnecessary elements such as surrender values to focus our whole-of-life plans as IHT planning tools.”

Zurich press officer Erica Harper says: “The FSA has made noises expecting a product to do one thing, not many. This product does just that and delivers what it promises. It does what it says on the tin.”

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