Aviva removes critical illness cover from Relevant Life

Aviva has today relaunched a revised version of its Relevant Life to remove confusion around HMRC requirements. In January 2016, Aviva launched the first ever relevant life policy with the option to add in critical illness cover (CIC) however this was followed by uncertainty surrounding whether the terms of the policy breached HMRC guidelines. By allowing policyholders to claim for CIC as part of tax efficient life plans, some providers in the industry argued that the policy conflicted with legislation laid down by the Income Tax (Earnings and Pensions) Act 2003, part 6 chapter 2 and ...