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Section 73 vs Section 72 Policies
Section 73 vs Section 72 Policies
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Guest
Guest
Oct 09, 2025
2:23 AM
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When considering inheritance tax strategies in Ireland, understanding the differences between Section 73 and Section 72 policies is crucial.
Section 73 policies are designed specifically for mitigating inheritance tax liabilities through life insurance. They allow individuals to leave a sum that can cover potential taxes due upon passing, thus preserving family wealth.
On the other hand, Section 72 policies function as pre-paid funeral plans. They serve to fund funeral costs directly and do not address inheritance tax directly like their Section 73 counterparts.
Another key difference lies in how these two types of plans affect your estate. While a Section 73 policy provides liquidity for beneficiaries to manage tax implications more effectively, a Section 72 plan focuses on immediate expenses related to funerals.
Each type offers unique advantages depending on individual circumstances and financial goals. Understanding these nuances can greatly influence effective inheritance planning strategies.
Talk to Money Maximising Advisors and learn how Section 73 planning can maximise what your loved ones receive.
For more details to know, Visit our website:- https://mmadvisors.ie/how-a-section-73-policy-can-reduce-inheritance-tax-in-ireland/
Money Maximising Advisors Limited (https://mmadvisors.ie/)
Call: +353 91 393 125
Email: office@mmadvisors.ie
Address: Unit 3, Office 6, Liosban Business Park, Tuam Rd, Galway, Ireland
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