Trusts

Putting a life insurance policy into trust means the payout goes directly to the people you choose, rather than becoming part of your estate. It can mean the difference between your family waiting months for probate, and receiving support within days.

Why it matters

• Speed: trust payouts can usually be released without waiting for probate.
• Inheritance tax: because the payout sits outside your estate, it's generally not counted towards inheritance tax.
• Control: you decide exactly who benefits, and can appoint trustees to manage the money on behalf of young children.

How it works

At the time you take out a policy, we set up an appropriate trust and name your chosen beneficiaries and trustees. There's usually no extra cost to add a trust. It's simply a matter of paperwork done at the right time.

Who it's for

Almost anyone taking out life insurance, particularly those with young children, unmarried partners, or estates that may be liable for inheritance tax.

Frequently asked questions