AIB Personal Pension Protection Plan

This product provides customers with a tax efficient way to put life assurance cover in place. Policyholders may be eligible for tax relief on the amount you pay towards the plan, as your policy operates alongside a personal pension or PRSA which qualify for tax relief at your marginal rate (subject to limits). The plan can be used to help your family or dependents replace lost income should you become deceased.

Who this plan suits?

• It is available to the self employed and those in non-pensionable employment who are aged at least 18. The plan is not available to anyone who is provided with pension benefits by his or her employer.
• The plan can only cover one person
• The policyholder must be no older than 72 when the plan starts, (unless the conversion option is selected in which case the policyholder must be no older than 59 – see the full terms & conditions in the brochure).

Additional Features

(For full terms & conditions of each of these features and for eligibility please arrange an appointment with an AIB Financial Adviser who will explain the features, terms and conditions in full)

• Tax relief - Premiums will qualify for income tax relief - at the highest rate of tax the policyholder pays provided that, when added to their pension contributions, the combined amount they are paying does not exceed the maximum amount that the Revenue will allow for tax relief purposes.
• The convertible option allows the policy holder(s) to convert their policy to a new protection plan at any time before their 65th birthday by converting the policy. This means they can extend their cover for a specific term of for the rest of their life
• Indexation of premiums – A policyholder may choose at outset that the amount they have assured their life for will automatically increase by 5% each year, on the anniversary date of the policy. (premiums would also increase – as per the terms & conditions laid out in the brochure available from your AIB Financial Adviser)

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