Commentary

E1.451B Life insurance gains—other events disregarded

Personal and employment tax

E1.451B Life insurance gains—other events disregarded

E1.451B Life insurance gains—other events disregarded

Assignment of rights

An assignment of rights is ignored if it is1:

  1.  

    •     a security for a debt

  2.  

    •     a discharge of a debt secured by rights under the policy or contract

  3.  

    •     between spouses or civil partners living together

Alteration of terms of a life insurance policy

A minor change in some of the terms of a life insurance policy may result in a subsequent event becoming a chargeable event where it would not have been under the original terms of the policy. This could be the case if the policy ceases to be

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