For self-employed individuals and those without access to a group scheme, pension term assurance provides life cover in a tax-efficient wrapper. Premiums attract full income tax relief at your marginal rate — meaning a higher-rate taxpayer effectively gets 40% of their premium back through tax relief. This makes pension term assurance significantly cheaper than equivalent standard life cover for those who qualify. PPFS will advise on whether this structure is available and appropriate for your circumstances.
“Are you currently claiming income tax relief on your life assurance premiums? ”
