N.I.Capital redemption policies
3(1)The value of a capital redemption policy shall be the difference between the present value of the sum assured according to the date at which it is payable, including any bonus or addition thereto made before the commencement of the winding up, and the present value of the future annual premiums.N.I.
(2)In calculating such present values, interest shall be assumed at such rate as the court may direct.
(3)The premium to be calculated shall be such premium as, according to the said rate of interest, is sufficient to provide for the sum assured by the policy, exclusive of any addition thereto for office expenses and other charges.