HMRC internal manual

Insurance Policyholder Taxation Manual

IPTM7050 - Exceptions: group life policies: credit union loan protection policies

There is also a specific exclusion from the chargeable event rules for group lifepolicies with the sole object of providing a sum on the death or disability of anindividual to meet the outstanding amount of a loan which that individual has taken from aregistered credit union.

Further reference and feedback IPTM1013