Occasionally you might find that an individual has a general
power over the policy proceeds. If the trusts do not constitute a
settlement, IHTA84/S5 (2) applies and the individual is treated as
beneficially entitled to the policy.
If the trusts do constitute a settlement S5(2) does not apply
unless the policy is effected under a superannuation scheme or fund
(
IHTM17121) to which IHTA84/S151
applies.
