Life assurance and annuities
Schedule IHT410
When to use this form
Fill in this form if the deceased was paying regular monthly
or lump sum premiums on any:
life assurance policies, or if any sums are payable by
insurance companies to the estate as a result of the
deceased’s death it does not matter if the policies were
on the deceased’s life or someone else’s life or whether the
policies were for the deceased’s benefit
unit-linked investment bonds with insurance companies or
other financial service providers that pay 101% of the value
of the units to the estate
investment or reinvestment plans, bonds or contracts with
financial service providers that pay out to the estate
on death
insurance policies and unit-linked investment bonds that
are payable to the beneficiaries under a trust and do not
form part of the estate
joint life assurance policies under which the deceased was
one of the lives assured but which remain in force after the
date of death
When not to use this form
Do not use this form to tell us about pension annuities.
Use form IHT409, ‘Pensions’ instead.
Mortgage protection policies
If the policy is a mortgage protection policy, you should
include the property, the mortgage and the policy as separate
items, as follows:
if the deceased owned the property in their own name,
you should include the policy details in question 2 below
if the deceased owned the property jointly, you should
include the policy along with the property and the
mortgage details on form IHT404, ‘Jointly owned assets’
Name of deceased
Date of death DD MM YYYY
Inheritance Tax reference number (if known)
Help
The notes to help you fill in this form are included on
the form. For more information or help or another copy
of this form:
go to www.gov.uk/inheritance-tax
phone our helpline on 0300 123 1072 if calling from
outside the UK, phone +44 300 123 1072
Your rights and obligations
‘Your Charter’ explains what you can expect from us and
what we expect from you. For more information go to
www.gov.uk/hmrc/your-charter
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Life assurance policies
1
Were any sums payable by insurance companies to the estate as a result of the deceased’s death?
No
Go to question 3 Yes Go to question 2
2
Details of sums payable by insurance companies (In Scotland the policies will be listed on form C1, ‘Inventory
– you do not need to list them again on this form, but please include their total here.)
Total
2
Name of insurance company Policy number Amount payable,
including bonuses
£
£
IHT410 Page 1 HMRC 09/15
3
Was the deceased’s life assured under a jointly owned assurance policy which continues after death?
No Go to question 4
Yes Give details of the policy and its value on form IHT404, ‘Jointly owned assets’
and not on this form. Go to question 4
4
Was the deceased entitled to benefit from a life assurance policy on the life of another person where
the policy continues after death?
No Go to question 6
Yes Go to question 5
Give details of life assurance policies. Please provide a copy of each policy
5
Name of insurance company Policy number Name of person whose
life is assured
Value of policy provided
by insurance company
at the date of death
£
Total
5
£
6
Total value of life assurance policies (box 2 + box 5)
£
Copy this amount to form IHT400, box 57
IHT410 Page 2
Payments made after the deceased’s death
Purchased life annuities
Payments made under a purchased life annuity have an income element and a capital element. You will find
information about the 2 different elements on letters from the insurance company making the payments. Payments
under an annuity purchased by the deceased to provide a pension will only consist of income. Give information here
about purchased life annuities only. You should show pension annuities on schedule IHT409, ‘Pensions’ instead.
Did any payments that were made under a purchased life annuity continue after the deceased’s death?
No Go to question 10
Yes Go to question 8
Give details of purchased life annuity payments
You can find a guaranteed annuities calculator on our website to help you value the right to receive the remainder of the
payments. Go to www.gov.uk/inheritance-tax
7
8
Name of the company
that sold the policy
How often were
repayments made?
For example,
weekly, monthly
Details of increases in
the payments during the
remaining guaranteed
period, if any
Date of final
guaranteed
payment
Value of the right to
receive the remainder
of the payments
£
Total
8
£
9
What is the gross annual amount payable under the annuity?
£
What part of that amount is considered capital?
£
What part of that amount is considered income?
£
(You may need to refer to letters from the insurance company for these figures.)
Include this amount in the
figure on form IHT400,
box 76
IHT410 Page 3
10
Lump sum payment made on the deceased’s death
Was a lump sum payable under a purchased life annuity as a result of the deceased’s death?
No Go to question 12
Yes Go to question 11
Give details of the lump sum payable
11
Name of the company
that sold the policy
Explain when and how the deceased
disposed of the right to receive the lump sum,
if not payable to the estate
Value of the lump
sum payable
£
Total value
11
£
Did the deceased, within 7 years of their death, pay any premium on a life assurance policy for the
benefit of someone else, other than the deceased’s spouse or civil partner?
No Go to question 14
Yes Provide details on form IHT403, ‘Gifts and other transfers of value’
13
Was an annuity purchased at any time? (The deceased may have purchased an annuity as well as paying the
premiums on a life assurance policy for the benefit of someone else.)
No
Yes Provide a copy of the policy schedule and provisions
Did the deceased have a right to benefit from a life assurance policy taken out on another person’s life and
held in trust for the benefit of the deceased (and others)?
No
Yes
Life assurance policies taken out on one person’s life may be held in a trust for the benefit of others.
Parents may often take out a life assurance policy but put it in trust for their children. Business partners or the directors
of a company may also take out insurance on their lives but for the benefit of their partners or co-directors.
If the deceased died whilst they were still working, or before their parent(s), there is a possibility that the deceased
may have a right to benefit under a policy held in trust.
If the deceased had the right to benefit under a life assurance policy held in trust, you will need to fill in the
form IHT418, ‘Assets held in trust’. See IHT400, ‘Notes’.
Include this amount in the
figure on form IHT400,
box 76
12
14
IHT410 Page 4
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