Schedule 3A, paragraph 4

A trust of a life policy paying out only— on the death, terminal or critical illness, or permanent or temporary disablement of the person assured; or to meet the cost of healthcare services provided to the person assured. A trust of an insurance policy paying out only— on the temporary disablement of the person assured, where that policy was applied for at the same time as a policy under sub-paragraph (1); or to meet the cost of healthcare services provided to the person assured. A trust of the benefits payable on the death of the person assured under a retirement policy.

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Source: legislation.gov.uk · retrieved 2026-09-04