Ensure your money goes to the right place if the worst happens

What is a trust?

Here's what you need to know about putting your life insurance policy into trust

  • A trust is a legal arrangement that lets the owner of something 'gift' it to someone else. This could be shares, a home, cash, or a life insurance policy.
  • This is done by creating a trust deed which sets out the terms and conditions that the trust can operate under.
  • Normally, placing a policy in trust is an 'irrevocable' act. This means once the policy is in trust this decision can't be changed later on, so it's important to carefully consider if putting a policy in trust is right for you.
  • You can put a life insurance policy into trust as soon as it starts, or at a later date.
  • There are different types of trust, but we offer three - fixed, flexible and split.
  • Our Online Trusts tool can help you decide on the right type of trust and set everything up online.

Important information

Before we start, you should know…

If you're in any doubt, you should speak to a solicitor.

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  • There are different types of trust available and it may not always be clear which should be used so if you're in any doubt you should seek legal advice.
  • The information on this page shouldn't be taken as advice. Once you've put a policy in trust you can't change your mind later so you need to be really sure that it's right for you.

Should I put my policy into trust?

Take a deeper look into the advantages and disadvantages


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  • The policy can't be taken out of trust later on meaning the proceeds are paid to the right person/people.
  • Proceeds are paid out quickly; we won't need to wait for probate (which can sometimes take several months).
  • Helps avoid inheritance tax - the proceeds won't normally be included in the deceased's estate and can usually pass tax-free to whoever is chosen as beneficiaries.


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  • If a policy is written in trust, you cannot change you mind and take the policy back out of trust later on.
  • Control over the policy is usually given to the trustees so you can't make changes to it. However, when using our Online Trust tool the forms automatically make the settlors a trustee so you still retain some ownership (to make changes).
  • You can't benefit from the policy (this isn't usually a problem if you're the only policy owner but it can get complicated with things like joint life policies).

Type of trusts

We have three types of trusts - fixed, flexible and split

We've provided a brief summary of each of our trust documents, and a quick way to download the deed and guide for each, which covers each in more depth.


Trust guides

Have a read of our guides - they might help you understand Trusts and Trustees. You can get this and other documents from us in braille, large print or audio by contacting us.

How to use the Online Trusts tool

Our Online Trusts tool will guide you through the process of setting up a trust.

Here's how it works:

frequently asked questions

You must have 100 questions, but let's start with these

Ready to set up your trust online?

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