Category: Life Insurance

This plan is set up by individuals to make contributions as savings for retirement income. A personal pension plan is not tied to an employer and if a retirement benefit plan is wound up one can switch to a professionally managed personal pension plan. Retirement plans enjoy tax exemption while the savings are exempt to certain limits.

Is setup to allow companies to provide retirement benefits for employees. The company forms the scheme as a sponsor which is professionally managed by an irrevocable trust registered by the Retirement Benefits Authority (RBA). Both the employee and the employer contribute to the scheme with a benefit of PAYE Tax relief.

An educational policy is a life insurance policy specially designed as a savings product to provide an amount of money for your child's education. When the fund matures, the fund value of the investment is paid. In the event of critical illness, usually an agreed percentage of the fund is paid immediately and the policy runs at no cost. In the circumstance of death, the insured’s beneficiaries immediately receive a lump sum and cash benefits in full at maturity, while the policy runs at no cost.