Pension Term Insurance offers valuable protection with tax savings, you can protect your family's future with a Pension Term Insurance in the event of your death occurring before you retire and you get the added bonus of tax relief at your marginal rate of tax. With Pension Term Insurance you can potentially reduce the cost of your life cover by up to 40%. There are two types of Pension Term Insurance, they are Personal and Executive.
- Personal Pension term the primary purpose is to cover the life insured against death. The policy is a regular premium protection plan. The benefit of the policy is the provision of a tax free lump sum on death of the life insured within the insurance term. This type of protection cover is applicable to self employed business people and employees that do not have a pension. For Personal Pension you are covered to the retirement age you select. Pension Term cover may be ideal to lower your current life assurance costs.
- Executive Pension this plan offers the same financial protection and is geared toward self employed or those not in pension able employment. For Executive Pension Term you are covered to the normal retirement age of your employer's pension scheme however there are restrictions on the level of cover provided. Contact Ireland Insurance today for expert advice on this tax savings life assurance.
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