Heartburn / GERD

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An excepted group life policy is defined in section 480 of the Income Tax (Trading and
Other Income) Act 2005. The policy must meet the conditions set out in sections 481 and
482 in that Act and initially cover more than one individual. 1 The policy must provide for a capital sum payable on the death of a person included in
the policy before age 75. 2 The same method is to be used for calculating the capital sum payable in respect of
all persons included in the policy. In this respect if any limitation applies it must apply
equally to all persons included the policy. 3 The policy must not carry a surrender value other than the return of a proportion of the
premiums in respect of the unexpired period of risk that had been paid in advance. 4 The only sums that can be conferred or paid under the policy are those referred to in
1. & 3. above. No other benefits can be permitted. 5 Any sums payable under the policy must be paid to or for, or conferred on, or applied
at the discretion of: a) An individual or charity beneficially entitled to them, or b) A trustee or other person acting in a fiduciary capacity who will secure that the sums
are paid to the beneficiary. For this purpose a charity means a body of persons or a trust established for charitable
purposes only. 6 No person who is, or is connected with, an individual whose life is insured under the
policy may, as a result of a group membership right relating to that individual, receive
(directly or indirectly) any death benefit in respect of another individual whose life is
so insured. 7 Tax avoidance is not the main purpose or not one of the main purposes, for which a
person is at any time: a) The holder or one of the holders of the policy, or b) The person or one of the persons beneficially entitled under the policy. Full details are available via the following link: http://www.opsi.gov.uk/acts/acts2005/50005-ap.htm#480 This publication is intended for general information and represents our understanding of the relevant law and
practice. Specific advice should be sought for specific cases; Canada Life cannot be held responsible for any
action (or decision not to take action) made in reliance upon the content of this publication. The information you access via the links on this publication is subject to the terms and conditions of the website
provider accessible via their home page and you are recommended to read such terms. Canada Life takes no
responsibility for the availability of any web links. Requirements for an excepted group life policy Group Life Assurance Our forms are available to download from our website: www.canadalife.co.uk/group Canada Life Limited, registered in England no. 973271. Registered Office: Canada Life Place, Potters Bar, Hertfordshire EN6 5BA CLFIS (UK) Limited, registered in England no. 04356028 is an associate company of Canada Life Limited. Registered Office: Canada Life Place, Potters Bar, Hertfordshire EN6 5BA The Canada Life Marketing Group consists of Canada Life Limited, Canada Life Asset Management and Canada Life International Limited. These companies are authorised and regulated by the Financial Services Authority (Canada Life International for UK Business only). Canada Life International Limited is an Isle of Man registered company authorised and regulated by the Isle of Man Government Insurance and Pensions Authority. GRP323 1007R Canada Life Limited 3 Rivergate, Temple Quay, Bristol BS1 6ER Telephone 0845 223 8000

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