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SCHEDULE 2 AMOUNTS TO BE DISREGARDED WHEN CALCULATING OR ESTIMATING N and M

27.  Any payment received under a policy of insurance taken out to insure against the risk of being unable to maintain repayments on a loan taken out to acquire an interest in, or to meet the cost of repairs or improvements to, the parent’s home and used to meet such repayments, to the extent that the payment received under that policy [F1exceeds] the total of—

(a)any interest payable on that loan;

(b)any capital repayable on that loan; and

(c)any premiums payable on that policy.