Financial planning analysts are concerned that interest in life insurance policies and trust funds will wane if the inheritance tax is repealed. A new report by Merrill Lynch suggests an estate tax repeal stands to hurt life insurance sales the most. One reason for this is that life policies are often used to protect assets from inheritance tax. Analysts reason that life sales could plunge if the estate tax is overhauled. Fox-Pitt, Kelton Inc. arrived at the same conclusion with its study that confirmed sales of estate planning products have risen by 20 percent to 30 percent, but that the tax repeal will likely stem the tide.