What is Gift Inter Vivos Insurance

Before you take out Gift Inter Vivos Insurance we want you to understand what this policy is, how it works
and what risks are involved. Its aims To provide a cash lump sum if you, or the person you are insuring if this is someone else, dies during the term of the policy. Terminal illness benefit is not payable under a Gift Inter Vivos policy.

It is a life assurance policy that provides a cash lump sum to cover a potential Inheritance Tax liability if the donor of a gift dies within seven years of making the gift.Premiums are fixed at the outset and will not change during the term of the policy. The term of the policy is 7 years. The cash lump sum that we would pay out on death goes down over the term of the plan as follows:

Policy year                % of Initial Cover

1                                    100%
2                                   100%
3                                   100%
4                                   80%
5                                   60%
6                                   40%
7                                   20%