Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Life insurance trust definition

What does Life insurance trust mean? In practice, a life insurance trust is a trust used to hold a life assurance policy so that the policy and any death benefit are owned by trustees and paid to beneficiaries, rather than forming part of the deceased’s estate. The term is descriptive, not defined by statute or case law, and is used consistently across England & Wales, Scotland, Northern Ireland and Ireland. It is usually created either by assigning (England & Wales, Northern Ireland, Ireland) or assignating (Scotland) an existing policy to trustees with a declaration/trust deed, or by setting up a settlement at inception that...

Discretionary life insurance policy trust deed with assignment, comprehensive trustee powers and settlor and spouse exclusion (England and Wales)

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Precedents

This trust is executed on [ date ]

Parties

[ settlor ] of [ address ] (the Settlor); and
[ original trustees ] of [ addresses ] (the Original Trustees)

Background

The Settlor holds absolute title to the life insurance policy (the Policy), the details of which are set out in Schedule 1.
The Settlor intends to transfer the Policy to the Original Trustees, to be held by them upon the following trusts...

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Web page updated on 22/05/2026

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