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23/04/2011 3:53 pm
Hi. Wondering if I could ask some advice. I have under a year to go on my Trust Deed. At the time of signing I had applied for Life Insurance for which I was declined. I am now thinking about applying for Life Insurance again and wondered if I was allowed to do this and how it would affect my Trust Deed. I wasnt looking for a large sum of insurance, just enough to cover the costs of a funeral but not really sure if this would be permitted?
Thanks
23/04/2011 4:10 pm
Hi Newbie65.
There was recently a thread where the experts said that if a life policy had to be claimed upon it's likely that the payout would go into the trust deed.
This may affect your view on how worthwhile such a new policy would be at this time. You might want to take advice from an IFA though to see if someone else could take out a policy with similar benefits and that would not be affected in the same way. I'm not sure if that's possible or not.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
23/04/2011 4:18 pm
Hi TDA. Thanks for your response. I will look into that.
🙂
