Joint life policies and trusts - would you, could you, should you?

'Right money, right hands, right time!'

clock • 7 min read

Royal London’s Vincent O’Connor weighs up the pros and cons of writing joint life policies into trust

Should you ever consider writing a joint life policy into trust? Is it even possible and if so, what are the benefits? To start with; we need to appreciate the benefits that writing a life assurance policy into trust brings along with the outcomes the client wishes to achieve. Typically, when we talk about the benefits of using trusts with protection policies, we're referring to three things: Right money, right hands, right time! So what does ‘right money' mean? Life policies written into trust won't be subject to any possible inheritance tax (IHT) that might be charged on the esta...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Individual Protection

Fifth of adults without a long-term financial plan

Fifth of adults without a long-term financial plan

Scottish Friendly research

Jaskeet Briah
clock 11 August 2026 • 2 min read
Government to launch up to 159 NHS mental health centres

Government to launch up to 159 NHS mental health centres

The Department for Health and Social Care (DHSC) has announced the launch of up to 159 new NHS mental health facilities across England.

Jaskeet Briah
clock 07 August 2026 • 2 min read
Protection APE up across the board: Gen Re

Protection APE up across the board: Gen Re

Protection pulse Q1 update

Cameron Roberts
clock 06 August 2026 • 1 min read