Life policy meaning

ARCHIVED: This Practice Note has been archived and is no longer being maintained This tracker summarises the consultation papers issued by the Prudential Regulation Authority (PRA) from 2017 onwards, together with the release of any follow‑on rules and guidance. For material on consultation papers from the Financial Conduct Authority (FCA) and the Financial Services Authority (FSA), see: FCA consultation paper tracker FSA consultation paper tracker Topic area, consultation paper, description, publication date, end of consultation period, and any Policy Statement / Supervisory Statement are recorded. Regulation of insurance 2023 — CP24/23 – Funded reinsurance. This consultation paper outlines proposed expectations for life insurance firms acting as cedants when entering into, or retaining, funded reinsurance arrangements. The PRA’s proposals reflect its assessment that the rising use of funded reinsurance within the UK insurance market presents significant potential risks, including the prospect of unduly concentrated exposures to correlated, credit‑focused counterparties...

In this issue: Budgets, Autumn Statements and Finance Bills Employee benefit trusts Useful information Dates for your diary Weekly highlights from other practice areas Budgets, Autumn Statements and Finance Bills Budget date confirmed for 26 November 2025 Rachel Reeves, the Chancellor of the Exchequer, has announced that the Budget will be held on Wednesday 26 November 2025. For details, see House of Commons Written Statement HCWS902. 3 September 2025 Employee benefit trusts HM Treasury publishes policy note and draft regulations on reforming the Money Laundering regime HM Treasury (HMT) has issued a policy note outlining proposed changes to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs 2017), SI 2017/692, alongside the draft Money Laundering and Terrorist Financing (Amendment and Miscellaneous Provision) Regulations 2025. The proposals set out targeted updates to the MLRs 2017, SI 2017/692 across several areas, aiming to plug regulatory gaps, respond to emerging risks,...

In this issue Trusts Court of Protection Elderly and vulnerable clients UK taxes for Private Client HMRC Manuals updates Tax avoidance, evasion and non-compliance Budgets and Finance Bills Contentious trusts and estates Pensions, insurance and tax efficient investments International Question of the week Additional Private Client updates this week Daily and weekly news alerts LexTalk®Private Client: a Lexis+® community New and updated content Dates for your diary Trackers Latest Q&As Useful information Trusts Insufficient credible evidence led to rejection of trustee expense claims (Hubbard v Hubbard) An account in common form concerning a trust holding development land, with trustees reporting to beneficiaries. The court determined the trustees failed to properly substantiate numerous costs, leading to substantial disallowances. Core principles include: trustees bear the onus to prove expenditure charged to the trust; poor or absent records are no excuse; and the court may grant a...

In this issue: Medical devices Research and development Pharmaceuticals—regulatory framework Post-market Daily and weekly news alerts New and updated content Trackers Useful information Medical devices AI model providers get confirmation of delays to EU Code of Practice MLex reports that developers of general-purpose artificial intelligence (GPAI) systems — including OpenAI, Google and Microsoft — have been informed that the statutory deadline for a definitive Code of Practice to support compliance with the EU AI Act will be missed, and publication may not arrive for a few more months. The postponement reflects work to align the Code with guidance on GPAI obligations, and efforts to secure buy-in from major AI firms while under pressure from the US government. See: AI model providers get confirmation of delays to EU Code of Practice. MedTech’s paper to support effective implementation of the MDR/IVDR ahead of the reform expected in 2026 MedTech Europe has produced a set of...

ARCHIVED: This Practice Note is archived and is no longer maintained. It previously monitored the progress of UK legislative proposals and consultations relevant to the life sciences sector from 2019–2022, separate from matters specifically linked to the coronavirus (COVID-19) pandemic and Brexit in that timeframe, which have their own archived trackers. To follow current UK legislative proposals, consultations and developments, as well as notable cases, relevant to the life sciences sector, see Practice Notes: Life sciences tracker—UK and Life sciences cases tracker—UK. To follow current EU legislative proposals, consultations and developments, as well as significant cases, relevant to the life sciences sector, see Practice Notes: Life sciences tracker—EU and Life sciences cases tracker—EU. For older archived materials on developments in life sciences, or those relating to the coronavirus (COVID-19) pandemic or Brexit, see: Coronavirus (COVID-19)—UK life sciences tracker [Archived] Coronavirus (COVID-19)—EU life sciences tracker [Archived] Life sciences—Brexit tracker 2020–2022 [Archived] Life sciences—Brexit tracker 2017–2020 [Archived] Patents tracker 2019–2021 [Archived] Life sciences...

This Practice Note reviews the range of insurance arrangements that parties involved in financial remedy cases might hold, such as life insurance/assurance, medical insurance and endowment plans. It also explains when it might be appropriate to implement a fresh policy, sets out the circumstances in which this should be put into effect within the proceedings, and notes drafting considerations when dealing with such policies. Individuals going through divorce or dissolution should audit the insurance products they own, whether in sole or joint names, including policies without a surrender value. The Practice Note concentrates on two areas that often raise more intricate issues: medical insurance and life insurance/assurance. Medical insurance In the UK, private medical treatment is available via private insurance, typically supplementing NHS provision. Employers may include such cover within their pay and benefits as part of a remuneration package, and schemes frequently permit the employee to add a spouse/civil partner and children on preferential terms. For parties living or working abroad, private medical insurance may assume particular...

Special category personal data Special category personal data is highly sensitive or private and therefore demands heightened protection. It is closely associated with: freedom of thought, conscience and religion freedom of expression freedom of assembly and association the right to bodily integrity the right to respect for private and family life freedom from discrimination There is a presumption that such data must be handled with greater care, as collecting and using it is more likely to intrude upon these fundamental rights or expose someone to discrimination. This Practice Note assumes familiarity with the concept of personal data. It outlines what qualifies as special category personal data and offers practical guidance on when and how you may process it. This Practice Note does not cover criminal offence data, which is governed by separate rules. This is most likely to be relevant to private sector commercial organisations in the employment relationship—see Practice Note: Criminal offence data—employment data protection...

The late [ name of deceased ] [ enter name of company ] [ enter address of company ] [ enter date ] Dear [ enter organisation name ], [ Policy OR Policies ] bearing number(s): [ enter policy number(s) ]...

1 General information Review timeframe [ Insert review period ] Review date [ Insert date ] Individual(s) carrying out the review [ Insert name(s) ] 2 Data Total count of high-risk clients [ Insert number ] Total count of high-risk matters [ Insert number ] Total count of these that pertain to PEPs [ Insert number ] Total count of these that concern false or stolen identification documentation [ Insert number ] Total count of these that involve sanctioned entities [ Insert number ] Total count of these that present a proliferation financing concern [ Insert number ] Total count of these that involve clients who are beneficiaries of life insurance policies where the retainer has a direct link to the policy [ Insert number ] Total count of these that concern clients seeking residence/citizenship rights of a state in exchange for investments in that state [ Insert number ] Total...

[ To appear on the employer’s headed paper or be issued as an email ] [ Date ] Dear [ insert name of employee ], Introducing [ insert name of employer ]’s new hybrid working policy Having gathered the views of staff and people managers via surveys and through consultation with you and your [ trade union ] representatives, I am pleased to confirm that the Company [ has opted to pilot OR is rolling out ] hybrid working in line with a new hybrid working policy. [ This pilot aims to evaluate whether hybrid working arrangements will OR Our hybrid working arrangements aim to ] deliver a better work/life balance, increase flexibility and job satisfaction, enhance productivity and performance, and help us make better use of our ‘physical’ time in the workplace. [ The hybrid working arrangements outlined in the policy are informal and will not result in any change to the terms and conditions of your employment. Changes will be applied consistently,...