Section 500 Events treated as part surrenders

the falling due of a sum payable as a result of a right under a policy or contract to participate in profits where further rights remain under it,

in the case of a contract for a life annuity which provides for a capital sum to be taken as an alternative in part to the annuity payments, taking the capital sum,

the making of a loan to which section 501 applies, and

the making of a payment to which section 504 applies (payments by insurers under guaranteed income bonds etc.).