Term Assurance Tax Rules Less Than 10 Years
Published / Last Updated on 15/06/2015
Term Assurance Tax Rules: Protection and Insurance Advice
Qualification rules for term assurance policies of terms of 10 years and under meaning that benefits can be paid tax free
- The policy must secure a capital sum on death or earlier disability
- The policy must provide that any surrender value must not exceed the premiums paid
- For policies effected on or after 6th April 1979, the term cannot be under one year
Request expert advice today before making changes to your policy.