Having your Life Insurance policy written in to trust is one of the most important steps you should take when setting up your Life Insurance but is sadly forgotten by a vast number of people.

The benefits are huge and so are potential pitfalls from not writting in trust.

So what does writing your policy in trust mean?

Normally when a life insurance claim is made, the sum assured will be paid into the plan owners estate. Once the money reaches the estate it is subject to Inheritance Tax and to the time it takes for probate to organise and redistribute the deceased's property.

Probate itself can take many months even for a straight forward case and if the Life Insurance is allowed to be subject to it, no benefit would be seen for many months.

By having your policy written in trust, the payout from the Life Insurance is prevented from entering the estate and is instead paid to whoever you nominate.

As a result the cash would be paid out much faster and would not be subject to inheritance tax.

2 Minute Quote feel so strongly about the benefits of writing your policies in trust that we will be happy to arrange this for you free of charge! All you need to do is nominate your beneficaries and return the trust form to us with signatures. We'll do the rest and you can be safe in the knowledge that your loved ones will recieve every penny of the life insurance payout!

To discuss trusts further or to discuss your protection needs, please feel free to contact us.