Aviva's commitment to its relevant life plan with CI remains unchanged

HMRC told L&G that critical illness conditions covered by relevant life plans must be linked to the retirement of the individual, in order to benefit from the tax exemptions that relevant life plans benefit from. L&G said the majority of conditions covered under critical illness cover are not guaranteed to lead to retirement which would depend on individual circumstances of claims. As a result, L&G has decided not to launch a similar product warning that policyholders could lose "the beneficial tax treatment that RLP currently provides and makes this product so worthwhile." Aviva l...