What Is a Life of Another Insurance Policy – And Why It Might Save You Thousands

When it comes to life insurance, many people in Ireland don’t realise that you can take out a policy on someone else’s life — and that it could be a powerful tool in protecting your finances. This is called a “Life of Another” policy, and it’s especially useful for unmarried couples, business partners, or anyone dealing with inheritance tax risks.

This guide explains when and why a Life of Another policy is relevant — for example, in cases where a cohabiting partner might inherit a property but be hit with thousands in inheritance tax due to a lower tax-free threshold. With proper planning, a Life of Another policy can cover this liability completely tax-free, offering peace of mind and financial security.

We’ve broken it all down in a short, easy-to-read eBook from BeatTheBank.ie. Whether you’re in a relationship, a partnership, or own shared property, it’s worth five minutes of your time.

Click here to open the “Life of Another” eBook (PDF)