Life Insurance. At last available with tax relief. Page 2

So why are the savings at around 5% to 15% for a standard tax payer and around 30%

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for a higher tax payer, less than the value of the tax relief? Well, the life companies have to administer the tax relief and there are certain ( car insurance quotes ) operational restrictions imposed on the insurance companies by the Inland Revenue - and this adds to the insurance costs - so the premiums are a little higher than conventional life policies. But after the tax relief you should make worthwhile savings.

As with all these tax changes, you must be aware that the Chancellor could ( term assurance ) remove the tax relief at a later date. Having said that, it's rare for a tax change to be applied retrospectively, so you are likely to be safe. Your income could also drop and move you into a lower tax bracket. This would decrease your savings.

These new life insurance policies are now available from most of ( cheap home insurance ) the big UK life insurers and life insurance brokers. However, you won't be able to get a quotation online - you'll have to get one on the phone from a Life Insurance Adviser.

And just to confuse matters somewhat, these policies are known under ( mortgage quotes ) a range of names: Pension Term Insurance, Life Insurance with Tax Relief, Life Protection with Tax Relief - but they all mean exactly the same thing.

And just to confirm one common miss-understanding, no, you don't have to buy a pension at the same time!