Hello johnd and welcome to the trust deed forum.

I'm not aware of any requirement to take out insurance in connection to a protected trust deed.

I'm therefore also unaware of any restrictions connected to the source of any such insurance.

Hi johnd

This is the 2nd time this matter has been raised. Could you advise me how much this 'Policy' will be costing you.

No, there is absolutely no reason to take out life cover with a Trust Deed. I assume they build in a figure for cover in your expenditure, so theres nothing to stop you shopping around

Mark

It is going to cost my wife and I ?ú100 per month,they say if I dont take it out that extra ?ú100 will got to my creditors,they say its better to go with them because it is built in to the trust deed

And a nice wee commission lol

Hi everyone.

I have a couple of friends who are financial advisers.

I'll post tomorrow with detail about the typical commission received on a ?ú100 per month life insurance policy.

It will be more than most readers expect.

Hi Johnd

I did have a laugh at your Trustees comments that if you didn't spend the ?ú100 on his insurance, it would just go to creditors.

Imagine that, a Trustee who might be looking after the interests of creditors!

If the insurance is to cover the payments in the Trust Deed in the event of death, I assume @ ?ú100 per month life insurance, you are paying around ?ú35,000 per month in contributions?

Mark

A life and critical illness insurance policy, with a monthly premium of around ?ú100, will potentially pay out a commission of around.........

?ú2000