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HMRC internal manual

Inheritance Tax Manual

Life Policies: types of policy: pure endowment policy

A pure endowment policy is one in which benefits are payable on a specified date if the life assured (IHTM20081) is still alive at that time. If the person whose life is assured dies before that date, no benefits are payable under the policy.

Pure endowment policies can be linked with term assurance policies (IHTM20102) for the purpose of avoiding Inheritance Tax. There is further information at IHTM20401.