Frequently Asked Questions
Ask us a question
You asked: What does putting my life insurance plan into ‘trust’ mean and how would it affect my death claim?
A trust is a way of ensuring that a life insurance plan pays out money to the trustees appointed in the trust.
The trustees are responsible for making sure the money is dealt with in accordance with the trust. This may involve paying the proceeds straightaway or holding the money for future use (for example, a parent might nominate their children as the recipients of any pay out).
A trust can speed up the process of a life insurance plan paying out as it usually does not require a grant of legal representation.
Did this answer your question?
Answers others found useful
Browse our FAQs by topic