Overview
Insurance Trust helps ensure insurance proceeds are protected, available, and distributed according to the instructions you set for your beneficiaries.
Why nomination may not be enough
Many parents buy insurance to protect young children, but nomination alone may not answer every practical question.
If a spouse is the sole beneficiary, what happens after the spouse passes away? If young children are beneficiaries, who claims and manages the proceeds for them?
- Whether beneficiaries are mature enough to handle large sums
- Who assists young beneficiaries if both parents are unavailable
- How proceeds should be used for education, living, and medical needs
How the trust helps
You execute a trust deed stating your instructions and transfer insurance policy rights to the trustee by assignment.
- Protected and readily available for immediate usage
- Used for education, living, and medical expenses
- Paid to loved ones the way and timing you choose
- Allows substitute beneficiaries and wider beneficiary choices
Next step
The right structure depends on family relationships, assets, liabilities, nominees, beneficiaries, and business interests. A consultation helps confirm which document or trust arrangement is suitable.