Health & Life

Private Pension & Life

Long-term savings plus life cover

Two different products that are often mentioned together. A private pension (BES) builds long-term savings with a state contribution on top. Life insurance pays a lump sum to the people you name if you die. One is about saving, the other about protection.

What it covers

State contribution

The state adds a percentage on top of your BES contributions, subject to conditions set each year.

Fund choice

You choose the risk profile of the funds your savings sit in, and can change it.

Life cover

A lump sum paid to your beneficiaries on death.

Additional riders

Accidental death, permanent disability and critical illness, depending on the policy.

What to watch for

Leaving BES before the qualifying period means losing part or all of the state contribution.
Fund returns are not guaranteed; the value can fall as well as rise.
Life cover is priced on age and health, and a medical declaration is required.
Suicide within the first period and undeclared illnesses are standard exclusions on life policies.
Conditions of the state contribution are set by legislation and change from year to year.

Who it is for

People building long-term savings, and anyone whose household would face financial difficulty if their income stopped. Those two are not the same person, and often need different products.

What we add as a broker

These two get bundled together far too easily. We start by asking which problem you are actually solving — building savings or protecting people who depend on your income — and price them separately so you can see what each one really costs.

Frequently asked

Is BES a good investment?

It is a long-term savings vehicle rather than an investment play. The state contribution is what makes it attractive, and that only works if you stay in for the qualifying period.

Can foreign nationals join BES?

Foreign nationals resident in Turkey can generally participate. The conditions attached to the state contribution are the part worth checking carefully in your situation.

How much life cover do I need?

The usual starting point is what your household would need to keep going without your income — outstanding debt, rent or mortgage, and a few years of living costs. We work through it with you rather than quoting a round number.

Let us compare 30+ insurers on an identical cover set for private pension & life.

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