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HMRC internal manual

Inheritance Tax Manual

HM Revenue & Customs
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Life Policies: annuities payable to deceased/transferor by insurance companies: purchased life annuities: types and potential claims

When dealing with a purchased life annuity you will need to consider the circumstances of each situation to decide on the appropriate course of action.

If the annuity:

Ceases on the deceased’s death follow the guidance at IHTM20633

Continues after the deceased’s death for a guaranteed period follow the guidance at IHTM20634

Was purchased in joint names follow the guidance at IHTM20635

In some cases more than one instruction might be relevant.