Putting your life insurance in trust can help avoid tax and get a claim paid quicker.

A trust is a legal arrangement. It allows the owner of property (or in this case a life insurance policy) to transfer legal ownership of that policy to another person. The original owner of the life insurance policy is known as the settlor. The person receiving the policy is known as the trustee, they hold onto the policy for the benefit of a third party, known as the beneficiary.

Writing a Life Insurance policy in trust may be beneficial for several reasons:

  • It makes sure that any money paid from a policy goes to the people specified by the settlor
  • An insurance company can normally pay a death claim more quickly
  • Money paid from a plan may be free of inheritance tax

If a policy is put into trust, it won’t be included in the settlor’s estate when they die. In most situations there would be no immediate inheritance tax to pay. This isn’t always the case so if your unsure about a trust please seek legal advice.

All of our insurance policies may be written in trust at no extra cost. You wouldn’t normally place a mortgage related policy in trust if the specific purpose of the policy was to pay off a mortgage.

Important Information

There can be other reasons for setting up a policy in trust. Before placing your policy in trust you should be sure that it is suitable for your requirements. Moneyworld cannot offer any financial or legal advice. We recommend you seek advice if you are unsure about whether a trust is suitable for you.

How do I place my life insurance policy in trust

You will complete the correct trust form for your requirements. Trust forms from all our insurers can be found on this page. The exact process for each company is described along with the full range of trust forms.

How to write your life insurance in trust

Each insurer has it’s own selection of trust forms and guide’s. Please read the guide and the trust forms for your chosen company. It’s really important you are confident in choosing the correct trust for your needs. If you’re not sure that a trust is suitable for you we strongly recommend you seek legal advice.

AIG

Complete your application online and take a note of the policy reference at the end of the application. Quote this reference in all correspondence. Print your chosen trust form, complete the relevant sections and post it directly to AIG at:

AIG
Beech House
35-37 London Road
Reigate
Surrey
RH2 9H

AIG Trust Guide
AIG Bare Trust
AIG Discretionary Trust
AIG Split Trust
AIG Expression of Wishes Form

Aviva

Complete your application online and take a note of the policy reference at the end of the application. Quote this reference in all correspondence. Print your chosen trust form, complete the relevant sections and post it directly to Aviva at:

Aviva
PO Box 520
Norwich
NR1 3WG

Aviva Trust Guide
Aviva Discretionary Gift Trust
Aviva Survivor Trust
Aviva Married Women’s Property Act 1882 Flexible Trust

Beagle Street

Complete your application online and take a note of the policy reference at the end of the application. Quote this reference in all correspondence. Print your chosen trust form, complete the relevant sections and post it directly to Beagle Street at:

Beagle Street
Pegasus House
Bakewell Road
Orton Southgate
Peterborough
PE2 6YS

Beagle Street Trust Form & Guidance Notes

Friends Life

Please send your trust form to us in the post at the same time as your application form. Please use our normal address in High Wycombe.

Trust options
Trust request, fixed split
Trust request, fixed whole scheme
Trust request, flexible split
Trust request, flexible whole scheme

Legal & General

Complete your application online and take a note of the reference number given at the end of the application. Quote this reference in all correspondence. Print your chosen trust form, complete the relevant sections and post it directly to Legal & General at:

Legal & General Assurance Society Ltd
City Park
The Droveway
Hove
BN3 7PY

Legal & General Trust Options
Legal & General Absolute Trust Guide
Legal & General Absolute Trust Form
Legal & General Discretionary Trust Guide
Legal & General Discretionary Trust Form
Legal & General Survivors Discretionary Trust Guide
Legal & General Survivors Discretionary Trust Form

LV=

When you apply with LV= you will complete some basic questions online and then book a time to receive a call from LV= to answer the medical questions. Your trust form should be posted directly to LV= after the telephone medical interview. You will need to quote your policy reference number which will be given to you by LV=.

LV=
Pynes Hill House
Rydon Lane
Exeter
EX2 5SP

LV= Guide to trusts
Fixed Trust Guide
Fixed Trust Form
Flexible Trust Guide
Flexible Trust Form
Split Trust Guide
Split Trust Form
Relevant Life Trust Guide
Relevant Life Trust Form

Royal London

Vitality Life

When you apply with Vitality Life you will complete some basic questions online and then book a time to receive a call from Vitality Life to answer the medical questions. Your trust form should be posted directly to Vitality Life after the telephone medical interview. You will need to quote your policy reference number which will be given to you by Vitality Life.

Vitality Life
Stirling
FK9 4UE

Vitality Life Trust Guide
Vitality Life Discretionary Trust Guide

Vitality Life Discretionary Trust Form
Letter of wishes
Vitality Life Absolute Trust Guide
Vitality Life Absolute Trust Form
Vitality Life Deed of Appointment of Additional Trustees

Zurich

Complete your application online and take a note of the reference number given at the end of the application. Quote this reference in all correspondence. Print your chosen trust form, complete the relevant sections and post it directly to Zurich at:

Zurich Assurance Ltd
Tri Centre One
New Bridge Square
Swindon
SN1 1HN

Zurich Absolute Trust Deed
Zurich Discretionary Trust Deed
Zurich Discretionary Survivorship Trust Deed
Zurich Discretionary Split Trust Deed
Zurich Discretionary Split Survivorship Trust Deed