(1) In this section -

"appointed date" means - (a) a date occurring not earlier than 8 years after the date on which a relevant insurance policy is effected, or (b) a date on which the proceeds of a relevant insurance policy become payable either on the critical illness or the death of the insured, or one of the insured in a case to which paragraph (b) of the definition of "insured" relates, being a date prior to the date to which paragraph (a) of this definition relates;

"insured" means - (a) where the insured is an individual, that individual, or (b) where the insured is an individual and the spouse or civil partner of that individual at the date the policy is effected, that individual and the spouse of that individual, jointly or separately, or the survivor of them, as the case may be;