investment-linked insurance business (2) For the purposes of this Act, "investment-linked insurance business" means the effecting and carrying out of a contract of life insurance under which the benefits payable to the policy owner is the greater between- (a) a specified minimum amount payable on death, on survival to a specified date, or at specified intervals; and (b) an amount which is determined by reference to the value at the relevant date of, or the income during the relevant period from, assets of a description specified in the policy or in any related statement.". ACT A432 - INSURANCE (AMENDMENT) ACT 1978 6. New section 6B.