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Everything below is set up for you by your own senior advisor.
Or Freephone 1800 808 808 and a senior advisor takes it from there.
Revenue-approved life cover taken out to pay the tax your children will owe. Used for that bill, the payout carries no CAT of its own. A senior advisor sizes the cover in euro and compares the main Irish providers.
Tell us roughly what you own and who it is for. A senior advisor is in touch with the likely tax bill and the cover that pays it.
Tax relief, contribution limits and the right plan differ between the three.
Stored securely, never sold. Used only to come back to you about your request.
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A Section 72 policy is life cover set up under section 72 of the Capital Acquisitions Tax Consolidation Act 2003. You take it out on your own life, or with your spouse or civil partner on both your lives, and you pay the premiums.
When it pays out, the money used for the inheritance tax due on your estate is exempt from CAT and does not count towards your children's thresholds. Any money left over joins the estate and is taxed in the normal way.
CAT at 33% on what each child inherits above the €420,000 Group A threshold, assuming no earlier gifts or inheritances.
| Each child inherits | Taxable amount | CAT due |
|---|---|---|
| €500,000 | €80,000 | €26,400 |
| €600,000 | €180,000 | €59,400 |
| €750,000 | €330,000 | €108,900 |
| €1,000,000 | €580,000 | €191,400 |
The tax is paid in cash. If most of what you leave is a house, land or shares in a family company, your children may have to sell or borrow to pay it. Section 72 cover puts the cash there.
It also helps parents who want each child treated the same, where one takes the farm or the business.
Section 72 cover is usually whole of life cover, so it pays out whenever death comes, not only within a set term. Couples can choose joint life second death cover, which pays when the second of you dies. That matches the tax, since everything passing between spouses is exempt.
The policy must be written as a Section 72 policy from the start, and the cover must be at least eight times the yearly premium. Some providers guarantee the premium will not rise. New applicants are accepted up to age 74 with both Irish Life and Zurich.
Are the premiums worth it? Revenue's rules keep the cover at least eight times the yearly premium. Beyond that, it depends on how long you live, so we set the total premiums to age 85, 90 and 95 beside the tax the policy pays, in euro, from real quotes.
The payout arrives when the tax falls due, with no CAT on it when used for the bill. Paying the same tax from savings uses money that was taxed once already, and it may not be there on the day.
Families can share the cost. The premiums must be paid by you, but each child can give each parent €3,000 a year under the small gift exemption, and you can put that towards the premium.
Declan and Mary are both 62. Their home, a rental property and savings come to €1.4 million. Their wills leave everything to each other, then equally to their two children.
What the plan showed:
Figures assume no earlier gifts or inheritances in Group A and are illustrative.
What you own and who it is for. Two minutes on the form.
Child by child, at today's thresholds, in euro.
Section 72 cover from the main Irish providers, including Irish Life, Zurich and Royal London Ireland.
With the health questions the provider needs, and our help with each one.
With your solicitor, so the payout goes to the tax.
As the estate grows and the thresholds change.
We (Richie and Nickey) received excellent pension advice that was clear, honest, and tailored to my situation. Everything was explained in a way we could easily understand, and we felt confident making decisions about my future. Highly professional service and very reassuring throughout the process.
They made setting up a company pension on a deadline extremely easy and stress free. You can tell they understand the products inside out. Very approachable, great availability for support with instant and clear answers.
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Thank you for the several calls to advise me. Great client attention! Eimear is fantastic! I had my pension sorted and a few insurances arranged. All the best.
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Straight answers with the figures. If yours is not here, a senior advisor answers it in your review.
It depends on your age, health, smoking status and the amount of cover. We get quotes from the main providers for your figures.
Yes, set by each provider. Irish Life's whole of life cover is open from age 18 to 74 and Zurich's from 45 to 74, so starting before your mid seventies keeps your options open.
The premiums must be paid by you, the person insured. Your children can each give you up to €3,000 a year under the small gift exemption, which you can use towards the premium.
No. A policy must be set up under Section 72 from the start. Existing cover cannot be turned into a Section 72 policy later.
Not usually. That is what Section 73 is for, though some Section 72 policies with an early encashment option after eight years can qualify.
If you stop paying, the cover ends. Some premium changes can cost the policy its Section 72 status for good, so talk to us first.
Checked 8 October 2026.
Warning: The value of your investment may go down as well as up.
Warning: If you invest in this product you may lose some or all of the money you invest.
Two minutes on the form. A senior advisor is in touch with the bill and the cover that meets it.