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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 1:39am

#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.

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