Cyrus Chung

Hi, Thank you for your reply. Its very helpful. Can I also enjoy the same 5% withdrawal benefit if the policy is owned by a trust that I set up before coming to UK? I will be the settlor and one of the beneficiaries of that trust. Cheers, Cyrus

Hi, I like the feature of the 5% rule on insurance policy so I am planning to apply one before coming to UK. One feature of the insurance policy which i am interested has a feature to split the original policy into other fews while there will be new owner & insured as wish. This feature enable me to split part of the original policy to my new born baby(ies) as making him/her as new insured & owner of the policy. Will this split trigger a chargeable event even no withdrawal has been made? Cheers, Cyrus

Hi dear, Would you mind show me which section I should refer to? The transfer will be to other child. Thanks, Cyrus

Hi, My insurance policy provide an option to change the name of the insured person while the current insured person is alive. If the insured is changed, will it be treated as a chargeable event in that tax year?