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Scottish Trust Deed Forum
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Topic starter
03/11/2011 10:42 pm
Hi
There has been a post about life insurance, and the fact that the Trustee has an interest in the policy -just in the event that you die whilst in a Trust Deed. I would just like let you know that if your life policy is written into Trust (ie for a spouse or children) then the Trustee is not entitled to it in the event of your death. Better still, should something happen to you, the policy pays out after 30 days. Some current policies can be changed, and if not you can just set up a new one. These types of policies are no more expensive than other life policies. Just food for thought!
Shona is not currently posting in the Trust-Deed.co.uk forum.
04/11/2011 9:16 am
Just to add to Shona's comments, life insurance can be complicated and we'd suggest taking professional financial advice from an IFA before making any active decision on starting, cancelling, or amending a life insurance policy.
If you're in a trust deed, or likely to start a trust deed soon, it's very important that the financial adviser is made aware of the trust deed so that they can factor this into the type of cover you select and whether/how any policy is "written into trust".
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
