Claims Flashcards
Why should photocopies of death certificates not be accepted?
Because of the danger of forgery
What is an executors proof of title?
The grant of probate
How are income protection claim payments taxed on individually held policies?
IHT
Why might the cause of death be relevant for a death claim?
It may be an excluded cause, reveal non disclosure or be by suicide
What is proof of title for an administrator?
A grant of letters of administration
If 2 people die simultaneously who of deemed to have died first?
The oldest
What situation automatically revokes a will?
Marriage or registering a civil partnership both automatically revokes a will, unless the will was made in anticipation for the event.
What is the name given to dying without a valid will in place?
Intestancy
How can a lost death certificate be replaced?
It can be obtained from the registar of births, deaths and marriages
What is segmentation?
The issuing of a bond as a cluster of identical small policies rather than the issuing of one large one
What authenticates an office copy of a grant of representation?
It is authenticated by the court seal
If a chargeable gain has been made on an onshore investment bond, the policy owner will only be liable for
Any higher or additional rate of income tax that is due
What must be paid before a grant of probate can be issued?
Inheritance Tax
Income protection claims on individually held policies are free of?
Income Tax
