Frequently Asked Questions

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How are "bonds" treated?

Any bond which has "an element of life assurance" is wholly ignored for means-testing purposes, and should therefore not be included in any calculation of your client's capital or income. This includes those products which have only a 1% or fraction of 1% life assurance element.

If there is no element of life assurance, treat the bond as capital, and ignore any income received from the bond.