Joint Life Insurance

A joint life insurance policy may be taken out in joint names of, for example a husband and wife.

The joint life insurance policy can be structured to pay out on first death or second death. The former is appropriate to cover for a joint mortgage and the latter can be useful in Inheritance tax planning. Policies can be written in trust to maximise tax-free payments.

You should consider taking professional advice if you are considering inheritance tax planning from a suitable independent professional advisor.