Life cover

Guide to trusts

Talking about trusts is a must.

Our guide will help you explain the
key benefits of trusts to your clients.

Guide to trusts

Talking about trusts is a must.

Our guide will help you explain the
key benefits of trusts to your clients.

  1. Give your client control over the beneficiaries.

    By putting a policy in trust, the policyholder has more control over where the payout goes. They can name any number of beneficiaries and decide what percentage of the payout each beneficiary receives.

  2. Imagine a family waiting 12 months for a payout?

    On average, in England and Wales, it takes between nine and 12 months* to obtain the Grant of Probate and to complete the estate administration process.

    By putting the policy in trust, the payout doesn’t form part of the deceased estate so it bypasses probate, and the beneficiaries get their money immediately.

    * The Times

  3. Don’t leave your client’s children with a tax bill.

    Whilst Inheritance Tax is not charged if the beneficiary of the life insurance payout is a spouse or civil partner, it is charged if the beneficiary is a child or other family member.*

    However, if the policy is written in trust, the payout falls outside of the estate and is not usually subject to Inheritance Tax irrelevant of the beneficiary.**

    * Forbes UK 

    ** Any references to the tax treatment for life cover trusts are based on The Exeter’s understanding of the legislation and HM Revenue and Customs (HMRC) practice at the time of publication. Both of these are likely to change in the future, and a liability to tax may arise under an existing arrangement. 

  4. Trust us to makes trusts easy.

    As your client's adviser you can quickly and easily put their Real Life policy in trust when they apply using our digital process.

    So, there’s no hassle, no paper and no need to provide evidence of the trust at the point of claim.

Trust forms to get you started

Trust deed
Life cover trust form

Trust deed

Trust deed form
Guidance notes
Life cover trust form

Guidance notes

Trust deed form
Changing trustees
Life cover trust form

Changing trustees

Trust deed form

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Real Life sales guide

A must read for all advisers selling life cover.

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If you have an underwriting query, our experienced team of over 20 underwriters can help.

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Nick Bowker
Call: 0300 123 3203