The effecting of the policy is a transfer of value (
IHTM04024).
The claim is on the first premium and, if the deceased paid
any further premiums on the policy, a claim arises in respect of
each one also.
See
IHTM20044 for procedural instructions.
If the policy contains an option to surrender bonuses to the
transferor before the policy matures, see
IHTM20252
