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Foresight upgrades Accelerated Inheritance Tax Solution with additional insurance cover


Foresight Group (Foresight) has launched an enhanced version of Foresight Accelerated Inheritance Tax Solution (Accelerated ITS). 

Foresight Group (Foresight) has launched an enhanced version of Foresight Accelerated Inheritance Tax Solution (Accelerated ITS). The product offers investors immediate protection from Inheritance Tax (IHT) by uniquely combining the benefits of shares that are expected to qualify for Business Relief (BR) and Life Insurance. The BR element renders the shares exempt from an IHT liability after two years, whilst the integrated life insurance element provides protection during the initial two-year period.

In addition to Single Life Cover for individual investors, Foresight Accelerated ITS now offers Joint Life Second Death (JLSD) Cover for joint investors who will benefit from Interspousal Transfer Relief, which pays out on the second eligible death within the initial two-year period. 

Resultantly, the Annual Management Charges during the first two years for JLSD have been reduced significantly compared to Single Life Cover. Foresight’s integrated combination of BR and JLSD cover is unique. Further, Foresight has established a long-term exclusivity with the underlying life insurer, who has an investment grade credit rating. 

Foresight Accelerated ITS is available without invasive medical examinations or complicated questionnaires. Investors simply need to sign a declaration confirming that they are not suffering from a terminal illness.

Since launch in 2016, the Foresight Accelerated ITS has established a 100 per cent record of insurance claims being met to date. In that time HM Treasury’s receipts from IHT have continued to rise year-on-year from £4.6 billion in 2015/16 to GBVP5.4 billion in 2018/19, the highest level ever recorded1. As more and more estates exceed the threshold, an increasing number are looking for a simple solution to their IHT problem.

Hugi Clarke, Director at Foresight, says: “The inheritance tax take is increasing as rising house prices and inflation continue to draw more are more people into the net. As a result, we’re seeing growing numbers of investors taking action to safeguard the assets they’ve worked hard to build over their lifetime.

“The combination of Business Relief and insurance for single and joint investors offered by the Foresight Accelerated ITS provides immediate peace of mind as the IHT liability is mitigated from the date of investment and clients maintain access to their assets.”  

Foresight Group is a leading sustainable investment manager specialising in ESG (Environmental, Social and Governance) strategies. It has one of the most experienced infrastructure investment teams in the BR industry, managing assets for more than 200 institutional investors as well as some 28,000 private investors. Since 2008 it has completed over 290 energy infrastructure investments and currently manages a global portfolio with a total generating capacity of 2.2GW, including the second largest solar portfolio in Europe, onshore wind, battery storage, flexible generation, energy from waste and biomass.

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