IPTM8440 - Friendly society tax exempt policies: qualifying policy rules: hybrid policies providing mainly sickness benefits
Where a tax exempt policy
- provides cover for sickness or other infirmity, under which at least 60% of the premium is attributable to that cover, and
- provides a sum assured on death
it will be a qualifying policy under ICTA88/SCH15/PARA4 even if it does not provide the minimum sum assured on death, described in IPTM8420.
»Ê¹ÚÌåÓýapp other qualifying policy conditions still need to be met, such as the requirement for a minimum premium paying term and regular premium payments of equal or rateable amount.