Pension Life Insurance
Pension Life Insurance is a life insurance plan that you can take out before you retire. It pays your family a guaranteed lump sum if you die during the term of the plan. If you are eligible, you can claim income tax relief on your payments. The advantage of Pension Life Insurance over other life insurance plans is that it could cost you less. This is because, if you are eligible, you can claim income tax relief on your payments.
Some important points regarding Pension Life Insurance available on this plan:
Personal Pensions
- You must be aged between 20 and 70 and you cannot have cover under this plan beyond age 75.
- The maximum term is 40 years.
- You must take out cover for at least 5 years.
Company Pensions
- You must be aged between 20 and 65.
- If you qualify for a company pension plan, the expiry date of your plan cannot go beyond your normal retirement age of your company pension plan. This age will be between 60 and 70.
- You must take out cover for at least 5 years
- the maximum amount of time we will provide cover for is 40 years and you cannot have cover under this plan beyond age 70.
Pension Life Insurance Booklet
This booklet will give you details of the benefits available on the Pension Life Insurance plan. It is designed as a guide that allows us to explain the product to you in short and simple terms.
