IHTM20027 - Life Policies: investigating form IHT410: procedure if the answer to Question 10 is Yes
If the lump sum has been included as an asset of the estate you can accept the value, without further question.
If the transfer of the right to receive the lump sum been included on the form IHT403 you should check the transfer value with the Actuarial Team if there are doubts as to the value transferred. Subject to this check you can accept the value.
If no value has been given you should ask the taxpayer or agent for a full explanation of why it is not included. When you get this you should decide whether the explanation is acceptable. If it is you do not need to take any further action.
If the explanation is not acceptable, or you are unsure about whether it is, you should refer to the Actuarial Team for advice.