263 Annuity purchased in conjunction with life policy
Inheritance Tax Act 1984 (1984 c 51) | Legislation

263  Annuity purchased in conjunction with life policy

(1)     Where—

(a)     a policy of life insurance is issued in respect of an insurance made after 26th March 1974 or is after that date varied or substituted for an earlier policy, and

(b)     at the time the insurance is made or at any earlier or later date an annuity on the life of the insured is purchased, and

(c)     the benefit of the policy is vested in a person other

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