1. Life insurance and contracts to pay annuities on human life as described in points (a)(i), (ii) and (iii) of Article 2(3) of the Directive ("Article 2(3)") excluding those referred to in classes 2 and 3.

2. Contracts of insurance to provide a sum on marriage or on the birth of a child expressed to be in effect for a period of more than one year.

3. The insurance referred to in points (a)(i) and (ii) of Article 2(3), which are linked to investment funds.

4. Permanent health insurance, that is 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 a sickness or infirmity, being contracts that -

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

(b) either:

(i) are not expressed to be terminable by the insurance undertaking under the terms of the contract, or

(ii) are expressed to be so terminable only in special circumstances mentioned in the contract.