Cohabiting Couple? Protect Your Life Insurance Payout from Tax
If you’re living with your partner but aren’t married, you may not realise the impact inheritance tax could have on life insurance payouts. Unlike married couples, cohabiting couples in Ireland are treated differently when it comes to taxes, meaning a significant portion of your inheritance could be lost to the taxman.
Luckily, there are ways to protect your loved ones from hefty tax bills and ensure that the full value of your life insurance payout reaches your partner. In this article, we’ll walk you through the options available to cohabiting couples, so you can make informed decisions to safeguard your financial future.
