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Insurance Bonds for Individuals

5 min read 18 Aug 22

Check your answers

1. The requirement for an insurable interest on a life policy dates back to…

a) The Life Assurance Act of 1774

b) The Life Assurance Act of 1974

c) The Life Assurance Act of 1984

d) The Life Assurance Act of 1994


2. In an onshore life fund, dividends received are taxed at…

a) 0%

b) 10%

c) 19%

d) 20%


3. Under ‘order of tax’ rules, which of these statements are correct…

a) Dividends are taxed before offshore bond gains

b) Rental income is taxed after onshore bond gains

c) Offshore bond gains are taxed before dividends

d) Onshore bond gains are taxed before pension income


4. In 2022/23, an individual with zero income can realise a tax free offshore bond gain of up to…

a) £5,000

b) £6,000

c) £12,570

d) £18,570

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