Life of another mortgage protection policiesTony and Carmela should have bought two single life of another mortgage protection policies and paid each other’s premiums from their own funds.Had they done so, Tony would be deemed to have inherited 50% of the NET VALUE of the property i.e 50% x (property value €350k – €200k mortgage) = €75,000The tax liability in this circumstance would be just €19,461  (33% x (€75,000 – €16,025)) instead of €52,775.That’s a €33,314 saving.Granted the premiums on two single life policies will be higher than one dual life mortgage protection policy but still, if the worst happens, you will save thousands.