About this calculator:
This calculator helps you identify your client’s potential inheritance tax (IHT) liability and can be used when recommending your clients take out Whole of Life Insurance. Remember that for married couples and those in civil partnerships, depending on what arrangements have already been made in the event of death, an IHT liability may not arise until both parties have passed away.
This calculator is based on our current understanding of taxation and trust law which could be subject to change in the future.
Who it’s for and when to use it:
This calculator is for adviser use only; it should not be used by customers. Any customer attempting to use this calculator and interpret the results is strongly recommended to seek professional advice from an Independent Financial Adviser. You can use this calculator to highlight your client’s need for IHT cover and the potential benefits of taking out an appropriate level of Whole of Life cover to meet that liability. The figures produced from this calculator are intended as a guide and is not to be considered as a recommendation or advice. There are numerous other factors which need to be taken into account when calculating your client’s potential inheritance tax liability (such as exemptions and reliefs which may / may not be available to them) and each situation needs to be viewed individually.
How to use it:
Enter the assets and liabilities below to produce an IHT liability valuation.
Whilst considerable care has been taken to ensure the information contained within this calculator is accurate and up to date, no warranty is given as to the accuracy or completeness of any information and no liability accepted for loss, damages or expenses which you may suffer through your use of this calculator. This calculator does not capture or store any data that you enter; its use is completely anonymous and the data entered and results given are only ever visible on the computer or device you are using.
Value of your home*:
Value of other property*:
Lump sum investments*:
Life Assurance not in trust*:
Loans and credit*:
Do you plan to leave more than 10% of your estate to charity? (An estate can pay Inheritance Tax at a reduced rate of 36% on some assets (instead of 40%) if 10% or more of the ‘net value’ of their estate is left to charity. If you select the option to leave at least 10% of your estate to charity, the calculator will work out how much inheritance tax you will pay assuming you give 10% of your net estate to charity.)*:
Amount Liable to IHT for Individuals:
Amount Liable to IHT for Couples:
IHT Liability for Individuals:
IHT Liability for Couples:
The valuation provided is an illustration only of the amount of cover potentially required by an individual. It is based on information you provide and is not be considered as a recommendation or advice.
AIG Life is not responsible for the valuation created nor any subsequent recommendations you make to your client.