What is Pension Term Assurance?

Pension term assurance is usually described as life insurance product for the self-employed that covers them until their chosen retirement date. Premiums obtain tax relief the same way as pension.

Pension Term Protection is life insurance that covers the period of time up until retirement. If you die during this term (i.e. before retirement), your family will receive a payment to ensure they do not suffer financial hardship. Tax relief is available at the marginal rate of tax on the premiums you pay, as the plan is structured as a pension product.