Pension Term Insurance

If you are self-employed or in employment but not a member of an occupational pension scheme you can take out a Term or Convertible Term policy and claim tax relief on the premiums (subject to certain revenue maxima).

If you have a PRSA, you can set this type of insurance policy up on a stand-alone basis. You can claim tax relief on the premium, provided that you stick within the revenue maximum contributions for your age

Company Directors can also do this whilst getting the company to pay the premium.

You cannot assign this type of policy as collateral for a loan.