SCHEDULE 1CONTRACTS OF INSURANCE

PART IICONTRACTS OF LONG-TERM INSURANCE

Permanent healthIV

Contracts of insurance providing specified benefits against risks of persons becoming incapacitated in consequence of sustaining injury as a result of an accident or of an accident of a specified class or of sickness or infirmity, being contracts that—

a

are expressed to be in effect for a period of not less than five years, or until the normal retirement age for the persons concerned, or without limit of time; and

b

either are not expressed to be terminable by the insurer, or are expressed to be so terminable only in special circumstances mentioned in the contract.