IPTM7075 | Exceptions: pre-20 March 1968 policies and contracts: ITTOIA05/SCH2/PARA96

A life insurance policy made before 20 March 1968 is outside the chargeable event gain rules unless it has been varied so as to increase the benefits secured or to extend the term of the policy - see IPTM7080. All capital redemptionpolicies and life annuity contracts made before 20 March 1968 are also outside the chargeable event gain rules.