Pension Term Assurance
Pension Term Assurance is life cover that pays your dependents’ a guaranteed lump sum if you die during the term of the plan. The advantage of this type of life cover is that it costs you less because if you are eligible you can claim tax relief on your contributions.
You pay a regular amount of money into your Pension Term Assurance plan. Your contribution provides the level of life cover you need until the date you have chosen for retirement. Your adviser can help you decide how much cover you need. The cost is guaranteed not to increase before that date, giving you added security, and you get tax relief on each contribution that you pay – so you benefit straight away.
Pension Term Assurance is available to Self-employed and to Directors of companies.