Person liable to charge
Insurers are under an obligation to issue a chargeable event certificate as described in IPTM3210. This will show the name and address of the policyholder.
In many cases the policyholder is the person beneficially entitled to the rights under the policy. And in many cases the person beneficially entitled to the rights is the person chargeable. Neither of these is always the case, however, and the position can be complex. The following categories of chargeable person are distinguished
- individuals and companies - IPTM3220
- UK resident trustees - IPTM3230
- personal representatives - IPTM3240.
Special rules may apply to rights held by non-UK resident trustees and foreign institutions, see IPTM3260.