Regulation 3 Exceptions to the requirement to make a statementI1

United Kingdom

A beneficiary is not required to make a statement under paragraph B3(2) of Schedule 15 in the following circumstances—

(a)

on the issue of a policy, if—

(i)

the information that must be included in a statement has been provided to the issuer in connection with the application for the issue of that policy, and

(ii)

that information has not changed since making the application;

(b)

on an assignment of a share in any rights under a policy, if—

(i)

the beneficiary has previously made a statement under paragraph B3(2) of Schedule 15 in respect of that policy, and

(ii)

that information has not changed since making that statement;

(c)

on a deceased beneficiary event, if before the event the beneficiary is a beneficiary under the policy in relation to which the event F1occurs;

(d)

on the occurrence of an event within paragraph B3(1)(e) or (f) of Schedule 15 in respect of a policy, if—

(i)

the policy is a protected policy within paragraph A4 of Schedule 15, and

(ii)

the policy is a paid-up policy.

Annotations

Textual amendments

F1: Reg. 3(d) and word substituted for word (26.3.2015) by The Life Insurance Qualifying Policies (Statement and Reporting Requirements) (Amendment) Regulations 2015 (S.I. 2015/544), regs. 1, 2(2)

Commencement

I1: Reg. 3 in force at 12.8.2013, see reg. 1(1)