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.