Names: Joan & Pat

Details: Aged 60- Married with no dependants

Protection: Whole-of-life cover

 

Joan & Pat are both aged 60 and live in Dublin. Their kids are grown up and they are enjoying their new-found freedom. They have no mortgage, their house is worth a lot more than when they bought it 30 years ago and they have some savings.

They want to make sure that when they die, they can leave everything to their children. But they don’t want their children to have to pay a hefty inheritance tax bill So, they took out a whole-of-life cover plan, which protects their children from inheritance tax. It will also cover the cost of their funeral.

This costs them €257.69 a month for €200,000 cover. It covers them for the whole of their lives.