Daniel2023
Joined: 4/21/2023
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Refundable health insurance Maturity Benefit
Before moved to UK, I got a Refundable health insurance in Hong Kong, which I paid monthly premium for 10 years (i.e. 120 times the monthly premium), I will get back 100 times the monthly premium. I did not claim for any medical benefit thru out the insured period. Now, I moved into UK and become UK Tax resident. When this policy matures, I will get back such Maturity Benefit . Do I subject to any tax on this ? As my net paid to insurance company is more than what I get back from insurance company when the policy is matured, In my understanding, no "Gain" is arose.