»Ê¹ÚÌåÓýapp

»Ê¹ÚÌåÓýappse are policies of life assurance, contracts for a life annuity or capital redemption policies where the benefits under the policy are determined, or are capable of being determined, by reference to:

• the value of, or income from, property of any description, or
• fluctuations in an index of the value of property of any description,

and

• the policyholder, or a person acting on his behalf, is under the terms of the policy able to select the property or index concerned.

»Ê¹ÚÌåÓýapp detailed definition is lengthy, and the rules that apply to personal portfolio bonds are complex. See IPTM3600 onwards.