Sch 3A para 4 Trusts of insurance policies
(1) A trust of a life policy paying out only— (a) on the death, terminal or critical illness, or permanent or temporary disablement of the person assured; or (b) to meet the cost of healthcare services provided to the person assured. (2) A trust of an insurance policy paying out only— (a) 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 (b) to meet the cost of healthcare services provided to the person assured. (3) A trust of the benefits payable on the death of the person assured under a retirement policy.