In April 2006 Pensions Simplification came into effect with the purpose of streamlining the many different pension rules. However, one of the benefits of the rule changes was to re-vitalise the life assurance market. As it is now possible to take out a life assurance policy and obtain tax relief on the premiums.

The effect is that for a basic rate taxpayer the premiums are 22% cheaper and for a higher rate tax payer the result is a 40% saving.

Even if you have existing life assurance perhaps to protect your mortgage or for family protection it may be beneficial to refresh your cover as you could be paying much more than you need to.

Research also shows many people have no life assurance and are unsure about what level of cover may be appropriate and how the application process works.

For a free independent assessment of your life assurance needs please contact Matthew Berry, Chartered Financial Planner of Park Row on 07968 013 895, 01204 364484 or via email on matthew.berry@parkrow.co.uk