Trusts
Placing your life insurance policy in a trust
After you have taken out your life insurance policy, you may want to place it in a trust.
What is a Trust?
A trust is a way of giving away something of value (the asset) for the benefits of others (the beneficiaries), but without giving them full access to and control over the asset. The asset can include property, shares and money, as well as life insurance policies.
When placing the asset in trust you specify who you want to be a beneficiary and who you want to look after or control the trust asset (the trustees).
Please note, a trust is an important legal document and once in force it cannot be cancelled. If you are unsure please contact your legal/financial advisor.
Learn More
On the right hand menu you will see our guide to trusts and trust schedules PDF's. You can open and download these to your PC.
The guide to trusts can help you with:
- How to set up a trust
- Why you should set up a trust
- What is a trustee
- What is a beneficiary
- Tax implications
You will also find an example of the trust forms, which will give you guidance when completing the forms if you decide to place your life insurance policy in trust.
Next Steps
If you are still unsure as to whether you should place your policy in trust please contact your legal/financial advisor for advice.
If you have read all of the information and wish to place your policy in trust please print the necessary trust forms, complete them and send back to:
Trust Team
Pod 26
City Park
The Droveway
Hove
BN3 7PY
If you have any questions about our guide to trusts or the trust forms please call our dedicated team on:
0845 073 0777
8:30am to 5pm Monday to Friday
We may record and monitor calls. Call charges will vary.
Please note, the trust team will not be able to provide any financial advice.
