What is the minimum percentage that Ellie's sum assured must be at the outset of her non-qualifying policy for tax purposes?

In the context of non-qualifying policies for tax purposes, there is no minimum percentage requirement for the sum assured at the outset. Non-qualifying policies do not benefit from the same tax advantages as qualifying policies, which often have specific sum assured conditions to meet in order to ensure tax-free benefits. This means that policyholders have more flexibility in determining the sum assured without a minimum threshold to adhere to.

In contrast, qualifying policies often necessitate that the sum assured meets specific percentages of the premiums paid or the total investment to provide favourable tax treatment. Therefore, in Ellie's scenario with a non-qualifying policy, she is not bound by any minimum percentage that her sum assured must meet, allowing her to structure her policy more freely according to her financial circumstances and goals.