IHTM20041 - Life Policies: investigating form IHT403: introduction

There are two situations in which transfers of value in connection with life policies should be recorded on form IHT403. These are:

• a gift of an existing life policy, or the effecting and immediate gift of a new life policy (IHTM20042)
• the payment of premiums on a life policy for the benefit of someone else (IHTM20043).