The benefits of our new Online Trusts
- No need for signatures – Trusts are in place from the outset, making it easier for you and your customers
- More flexibility – an enhanced split Trust feature allows your customers to choose how much Terminal Illness or Critical Illness benefit they want to retain
- Greater Freedom – customers can exercise product options without trustee’s permission such as declining of indexation option
FOR NEW APPLICATIONS ONLY
Trusts can also ensure your customer’s partner receives the money they need to live on. For example, if your customer didn’t have a Trust and they weren’t married or hadn’t made a will, their surviving partner may not be legally entitled to the policy proceeds. So it’s a great way to protect the people who are important to them.
For Personal and Relevant Life Plan Trusts, these are the people who are to receive the money from the Trust fund. This could be a spouse, registered civil partner or children for example.
As for Share Protection Trusts, the beneficiaries will be the other business owners.
Compare our Trusts
Type of Trust
Type of Trust
Reason for cover
Available for Single/Joint plans?
Flexible Personal Yes Yes Single life policy only
Your customer names default beneficiaries who are first in-line to receive the benefit. The trustees can also use their discretion. Discretionary Personal Yes Yes Single life policy only
The Trustees have discretion over who will receive the benefit, but specific guidance can be provided in a letter of wishes. Survivors Personal Joint life policy
Yes Yes The surviving life insured will automatically receive the benefit (if they survive the first to die by 30 days). Relevant Life Plan Relevant Life Plan Single life policy only Yes Yes Your customer names default beneficiaries who are first in-line to receive the benefit. The trustees can also use their discretion. Business Protection Share Protection
Single life policy only Yes Yes The co-business owners. Absolute Personal Yes No No Your customer names the beneficiary at the outset and it cannot be changed.
Specialist teams to handle your customers claim
Our claims team are specially trained by the Samaritans, so you know that your customers’ trustees will speak to someone who understands that this may be a difficult time. They’ll also make every effort to pay a claim quickly.
FAQs & Guide
Find frequently asked questions around Trusts or our new Online Trusts, you can also download our guide for additional information
Read FAQs Download Guide
For new Personal and Business applications. Trusts can be created in OLPC when submitting an application.
Personal Protection Trusts
For existing Personal policies or if you want to use a paper-based Trust for a new policy.
Business Protection Trusts
For existing Business policies or if you want to use a paper-based Trust for a new policy.