What type of trust might be right for you?

Putting your life policy in trust is easy and we can help you decide which trust could be right for you in just a few minutes.

To help you decide, you'll be asked some simple questions. You'll need to know what type of policy you have, so it might be helpful to have your policy documents to hand. Click the button below to get started.

Start

Is the policy for personal or business cover?

This trust tool is designed to help with personal insurance policies only. If you need help with a business trust please speak to your Adviser about your business protection trust options.

Next Go back

Have you ever transferred your policy over to another company (Eg. A bank) as security to cover a loan, or another individual or is it part of your pension?

This trust tool is designed to help you put in trust, life insurance where you or you loved ones would still receive the money in the event of a successful claim being met.

As you have selected 'Yes' placing your policy in trust may be more complicated, so we suggest you take specialist advice.

Great, just a few more questions to go.

Next Go back

Please choose the type of policy you have from the list below and click next.

If you're unsure which type of policy you have, please look at your Policy Document.

Next
Life Insurance

This is called 'Life Insurance', 'Decreasing Life Insurance' or 'Increasing Life Insurance' on your Policy Booklet.

Or it may be called 'Term Assurance' or 'Decreasing Term Assurance' on your Policy Documents.

Life Insurance with Critical Illness Cover

This is called 'Life Insurance with Critical Illness Cover', 'Decreasing Life Insurance with Critical Illness Cover' or 'Increasing Life Insurance with Critical Illness Cover' on your Policy Booklet.

Or it may be called 'Term Assurance with Critical Illness Cover' or 'Decreasing Term Assurance with Critical Illness Cover' on your Policy Documents.

Critical Illness Cover

This is called 'Critical llness Cover', 'Increasing Critical llness Cover' or 'Decreasing Critical Illness Cover' on your Policy Booklet.

Or it may be called 'Mortgage Decreasing Critical Illness Cover' or 'Critical Illness Cover' on your Policy Documents.

Family and Personal Income Plan

This is called 'Family and Personal Income Plan', 'Family and Personal Income Plan with Critical Illness Cover' or 'Family and Personal Income Plan Critical Illness Cover', 'Increasing Family and Personal Income Plan', 'Increasing Family and Personal Income Plan with Critical Illness Cover' or 'Increasing Family and Personal Income Plan Critical Illness Cover' on your Policy Booklet.

Or it may be called 'Family and Personal Income Plan', 'Family and Personal Income Plan with Critical Illness Cover' or 'Family and Personal Income Plan Critical Illness Cover' on your Policy Documents.

Over 50s Life Insurance

This is called 'Increasing Life Insurance Plan' or 'Fixed Life Insurance Plan' on your policy schedule.

Whole of Life Protection Plan

This is called 'Whole of Life Protection Plan' on your policy schedule.

Relevant Life Plan (RLP) or Increasing Relevant Life Plan Income Protection Benefit (IPB) or Increasing Income Protection Benefit Pension related assurance including tax efficient Life (TELIP) Other kind of policy not listed here

This type of policy cannot be put into trust using this trust tool. Please speak to your adviser or seek specialist advice about your trust options for this type of insurance.

This type of policy cannot be put into trust using this trust tool. Please speak to your adviser or seek specialist advice about your trust options for this type of insurance.

This type of policy cannot be put into trust using this trust tool. Please speak to your adviser or seek specialist advice about your trust options for this type of insurance.

Next Go back

Is the policy single or joint?

Next Go back

Is the policy single or joint?

Next Go back

Does your policy with us have funeral cover included?

Your policy is currently set aside to pay for your funeral through our partner Dignify, so a trust may not be appropriate.

If you want to know more about your funeral benefit, please speak to Dignity direct on 0800 456 1047* or visit www.dignityfuneralplans.co.uk

*Please be aware call charges may vary and we may record and monitor calls.

Next Go back

Do you want the life insurance money to go to the other person on your joint life insurance policy?

Based on your answers you may want to consider a SURVIVORS DISCRETIONARY TRUST, as this means any money from the life insurance will automatically go to the other person on your policy.

Next Go back

Joint policies can either pay out when the first person dies, or the second. Please select which option you have.

Next Go back

Do you know exactly who you want the money to go to?

Next Go back

Would you like to give your trustees the discretion to decide who will get the money from the trust?

Based on your answers you may want to consider a DISCRETIONARY TRUST, as:

1. this gives you the flexibility to include more or change your list of beneficiaries in the future
2. it gives your trustees the discretion to share out the money to this list of beneficiaries only, according to your wishes.

If you want to find out more about this trust visit our Inform section. Or lets complete the trust now.

Based on your answers it appears that you are not completely sure of who you want to benefit from your life insurance and you do not want someone else to decide for you - a trustee. On this basis you may want to visit our Inform section of this trusts tool to reconsider if a trust is right for you or seek specialist advice. Find out more.

Next Go back

Do you want to have the flexibility to change the person or people who the money goes to in the future? (For example to add in children or grandchildren.)

Based on your answers you may want to consider a DISCRETIONARY TRUST, as:

1. this gives you the flexibility to include more or change your list of beneficiaries in the future.
2. it gives your trustees the discretion to share out the money to this list of beneficiaries only, according to your wishes.

If you want to find out more about this trust visit our inform section. Or lets complete the trust now.

Based on your answers you may want to consider an ABSOLUTE TRUST, as this allows you to finalise your beneficiaries at the start but never change them.

Next Go back

Your recently viewed items...

You need javascript enabled for us to remember your Recently Viewed Items.

You might also be interested in...