Brand Bitesize: Gift Inter Vivos Policies
To help you prepare for your CII R05 exam, this Brand Bitesize video explains gift inter vivos policies – what are they and what are they used for.
This video is correct as at 13 August 2024.
Gift inter vivos policies are a specific type of life assurance policy, designed to protect the recipient of a lifetime gift from inheritance tax (IHT).
IHT may be due on lifetime gifts following the death of a donor within 7 years of making the gift. A gift inter vivos plan is a decreasing term assurance that mirrors taper relief; the sum assured remains level for the first 3 years, then reduces by 20% per year from the end of year 3. If you’re studying towards your CII R05 exam, this might be helpful for you, if you’re working towards R06, it might be a useful reminder!
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Check out this short, informative video - it's Brand Bitesize, and this one's all about 'Gift Inter Vivos Policies' – useful for #CII R05 exam revision. Share on X
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