FAQ: who would benefit most?

Who would benefit from CWIP?

Anyone who is considering taking out a whole of life savings policy towards the payment of the inheritance tax liability due on their death. Additionally, anyone who wants to start a simple savings policy to build up, over a number of years, a sum for a member of their family, for example a young grandchild.

Who would not benefit from CWIP?

CWIP is unlikely to be suitable for:

• people whose potential IHT liability is negligible, though it may still be an appropriate savings scheme for other members of their family; and

• where the person to whom you want to gift the money has debt. As a general rule, it is sensible to consider repaying debt. There can be no guarantee that a savings scheme can produce a result that is better than the certainty of repaying debt; and

• those who do not permanently live in England and Wales