If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)

Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Exit tax on life assurance policies

Hannaho · 2014-01-26 01:39:39

Hi! I have a term life insurance policy for e300,000. I don't fully understand the Exit Tax, but wondered if I die, does the Exit Tax on Life Insurance policies mean, that 41% of the value of the policy will be deducted, basically meaning that my children will get around e170,000 instead of the e300,000. If this is the…

26-01-2014 02:39AM

#1

Hannaho

Registered Users, Registered Users 2 Posts: 737 ✭✭✭

Join Date: August 2010

Posts: 427

Hi! I have a term life insurance policy for e300,000. I don't fully understand the Exit Tax, but wondered if I die, does the Exit Tax on Life Insurance policies mean, that 41% of the value of the policy will be deducted, basically meaning that my children will get around e170,000 instead of the e300,000. If this is the case, I would be quite concerned that I am not insured enough and would consider taking out an additional life policy. Would welcome any comments/advice on this matter.

0