Life Insurance - Setting up a Trust
If you require that the proceeds of your life insurance will be paid to your dependants, in the event of your death, in a direct and uncomplicated way, then it is vital that you place your policy in trust.

Who is involved?

The Settlor, they create the trust and initially own the policy (you, if it's your policy).

The Trustees (of which the settlor may be one) - look after the trusts legal requirements. They're also considered the legal owners of the policy.

The Beneficiaries, those who benefit from the life insurance payment when a claim is made.

Trusts are very easy to arrange, and Proactive Medical & Life Ltd does not charge for setting them up on behalf of Proactive Medical & Life Ltd customers. Setting up a trust allows you and others to control what happens to the money after your death. At the onset, you decide who is to benefit and in what proportion.

So why is this so important? Simply, to have that peace of mind that the money is passed directly to your beneficiaries, without any reference to your will or the taxman. And not only that, it can speed up the process of getting the money to your beneficiaries by, on average, six months, saving precious time.

Proactive Medical & Life Ltd Registration Number: 06483379 is an Appointed Representative of Healthnet Services Limited, who are authorised and regulated by the Financial Conduct Authority. Healthnet Services Limited entered on the FCA register No 312313