Waiver benefits danger

All existing life cover and waiver of premiums within personal pension products could cease on 6 April 2001, if the Government proceeds with its stakeholder proposals. Contained within the Government's Consultation Brief Six, released in September, is the proposal that life cover and waiver of premium should not be included within the stakeholder product. This is because the person buying the cover is essentially receiving an unintended tax relief on their contributions. Waiver, along with life insurance, has typically been sold as part of a pension so that it can obtain some tax benef...