At a glance
We've provided the main product features into one handy place.
Product feature | Details |
|---|---|
Type of benefit | Lump sum |
Term | 7 years |
Minimum age at entry | 17 |
Maximum age at entry | 79 |
Maximum age at end of plan term | 85 |
Minimum premium | £7 per month |
Other eligibility criteria to take out a plan | Applicant must be a UK resident |
The following table shows how the sum we would pay out on death goes down over the term of the plan in line with inheritance tax liability:
Number of years survived between gift and death | Percentage of tax payable |
|---|---|
Less than 1 | 100% |
1 | 100% |
2 | 100% |
3 | 80% |
4 | 60% |
5 | 40% |
6 | 20%
|
7 | 0%
|