Life insurance is tax-free in that a payout is not subject to income tax. However, a payout can form part of your Estate and, if your total Estate is valued at over a certain threshold, the recipients could be liable to pay inheritance tax on some or all of the payout.
Protect Line offers a complimentary Trusts service to all customers. By putting your life insurance policy into Trust any payout would not form part of your Estate, meaning it could avoid inheritance tax.
Trust planning is not regulated by the Financial Conduct Authority. Inheritance tax planning is not regulated by the Financial Conduct Authority.