Life insurance premiums – tax relief

Can I claim tax relief on my life insurance premiums?

Income tax relief is not generally available on life insurance premiums.

However if you’re self employed or working for an employer who does not include you in a pension scheme for retirement benefits, you can arrange life insurance cover payable to your estate and the premiums may qualify for income tax relief at marginal rate, within certain Revenue limits.

This type of cover cannot be assigned to a lender; the proceeds on death must be paid to your estate.

Any queries on same give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie