IHTM20251 - Life Policies: policy on the deceased鈥檚 life not connected with any other transaction (except a trust): policy effected for the benefit of someone else from the start: introduction
Where a policy is effected for the benefit of someone else from the start, the effecting of the policy is a transfer of value (IHTM04024).
皇冠体育app claim is on the first premium and, if the deceased paid any further premiums on the policy, a claim also arises in respect of each one.
皇冠体育appre are procedural instructions at IHTM20044.
If the policy contains an option to surrender bonuses to the transferor before the policy matures, the guidance at IHTM20252applies.