IPTM7355 - Maturity: chargeable event even if rollover option in policy is exercised
The maturity of a life insurance or capital redemption policy is now always a chargeable event, except of time-served qualifying policies in the circumstances described in IPTM7310. This is the case even if the policy contains an option under which all the maturity proceeds may be re-invested in a new policy with the same insurer.