Life Assurance early 80's minimise future tax bill

Majic

Is it possible to take out a whole term life assurance to minimise a future tax bill when someone has passed the age of 80. If so would you be able to take out a 7 year plan (to cover until they are 90).I have my doubts this is possible. The life assurance would be written in trust so as not to add to the estate. Thanks

dunstonh

Is it possible to take out a whole term life assurance to minimise a future tax bill when someone has passed the age of 80. 

yes.  Still possible, subject to health and affordability. (it gets very expensive

Majic

dunstonh said:

Is it possible to take out a whole term life assurance to minimise a future tax bill when someone has passed the age of 80. 

yes.  Still possible, subject to health and affordability. (it gets very expensive

Any idea which company would offer this?Not seen much out there

DullGreyGuy

You seem to be mixing terms? You called it both term insurance and whole of life assurance? Do you know which you want?

Best bet is to contact a whole of market protection broker. They can gather your information, clarify what you need and present the case to the most appropriate insurers. Good ones will have conversations with them, via lines not accessible to direct customers, prior to submitting to avoid having to declare declines.