On page 6 of chapter 6, "On the final maturity or full surrender of the contract or on death, the taxable amount equals the total chargeable gain less what has previously been taxed." Does the "total chargeable gain" here include the amount previously received from part surrender?
Yes, although the calculation of total chargeable gain will vary under each of death, full-surrender and maturity the previous part-surrenders are included in each scenario.
