Life Cover With Tax Relief


It is life cover that has been approved for tax relief under Section 785 of the Taxes Consolidation Act, 1997. Effectively life cover that qualifies for tax relief. It is also known as Pension Term Insurance.

There are 2 types of pension term insurance.

Who is Personal Pension Term Insurance suitable for

Anyone who is self-employed, either in a profession or trade. Such as solicitors, accountants, carpenters or farmers, assessable for income tax under Schedule D Case I and II.

Anyone who is in non-pensionable employment i.e. PAYE workers who are not part of a company (occupational) pension scheme.

Who is Executive Pension Term Insurance suitable for

If you are a director of a company or are an employer.

If you are a member of a group occupational pension scheme and your employer has set up a group AVC scheme.


Premiums paid into Executive Pension Term Assurance are eligible for tax relief at the appropriate corporate rate, subject to certain limits. There are no BIK implications for the individual director or employer.

Premiums paid into Personal pension term insurance qualify for tax relief at the life insured’s marginal rate of income tax, subject to certain limits.

Policy proceeds are paid out tax free when used to offset an inheritance tax liability.

Protect you and your family against the unexpected Life insurance is not as costly as it once was, and we price match to get the lowest price on your behalf. Talk to us today, and we will explain, how life and home insurance works in easy to understand terms, at the very least, you will then know, if your current policy is suitable or not.