Pension term assurance
From Wikipedia, the free encyclopedia
Pension Term Assurance (PTA) was a form of life insurance available within the United Kingdom where the premiums received tax relief when taken out as part of a pension. It effectively made life insurance cheaper for the consumer. Despite what the name might suggest, Pension Term Assurance did not have to form part of a pension - it merely needed to be taken out at the same time as a new pension was set up. The UK Government stopped these in 2006 and they are no longer available. Executive Pension Term Assurance (EPTA) is a life insurance policy structured within a pension plan, commonly used by company directors to gain tax efficiency, corporation tax relief, and provide a lump-sum death benefit.[1]
