01403 780 791Life Assurance - taxation
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If you are unsure about specifics or have questions about life assurance or would like a free, same day quotation - then please do get in touch with us by filling out our simple enquiry form.Provided your policy is a "qualifying policy" the benefits paid are not subject to income tax. To qualify, a policy has to satisfy certain statutory conditions. These include providing a minimum sum insured payable on your death. Also, premiums have to be payable at annual or shorter intervals for at least 10 years or until your earlier death. If you are a higher rate tax payer and surrender the policy within the first 10 years, some income tax may be payable.
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