It’s name… Pension Term Assurance.
Quite simply, this is a Term Assurance policy that is structured to utilise the tax relief that is currently available under Pensions legislation, and you don’t
even need to have a Pension plan to benefit from this type of policy. You can avail of the benefits of Pension Term Assurance and protect your family and their financial security provided you are either self-employed or working in non-pensionable employment
Personal Pension Term Assurance provides life cover for your family in the event of your death before you reach retirement. You can put a financial safety net in place so that if you are not around to provide for them anymore, you have still taken care of them financially. Pension Term assurance gives you the benefit of having life cover in place whilst availing of tax relief on the premiums you pay. You get the peace of mind of knowing you provided financially for your family and you benefit from tax relief on your payments.
What is Pension Term Assurance?
Pension Term Assurance is designed to provide Life Cover to those in non-pensionable employment. This includes for example, a self-employed person or someone who is not a member of an employer-sponsored Pension plan. A major attraction of a Pension Term Assurance Policy is that currently, if eligible, you may claim full tax relief, at your marginal tax rate, on all premiums paid into this policy. So, if eligible, this valuable security may cost you as much as 41% less than a regular Term Assurance policy.
Talk to your Financial Broker today about the best product and options to meet your personal needs.