Hi,
I am looking to take out life assurance and I am trying to establish the cheapest way of doing so.
I am in a DB pension scheme and I also contribute to an AVC scheme. My AVC scheme will allow me to increase my death-in-service benefit from 1.5 times my salary up to the revenue limit of 4 times my salary (tax free lump sum). There appears to be a tax advantage in taking out this cover through the AVC scheme.
Would I be better off taking out the extra life cover through the AVC scheme or obtaining the same cover through a separate policy?
Any advice would be greately appreciated.
Thanks,
Auburn
I am looking to take out life assurance and I am trying to establish the cheapest way of doing so.
I am in a DB pension scheme and I also contribute to an AVC scheme. My AVC scheme will allow me to increase my death-in-service benefit from 1.5 times my salary up to the revenue limit of 4 times my salary (tax free lump sum). There appears to be a tax advantage in taking out this cover through the AVC scheme.
Would I be better off taking out the extra life cover through the AVC scheme or obtaining the same cover through a separate policy?
Any advice would be greately appreciated.
Thanks,
Auburn