Life insurance in trust
What it means to put a life insurance policy in trust, who the trustees are and how it can affect the payout.
What does putting life insurance in trust mean?
Putting life insurance in trust, sometimes called writing a policy in trust, means handing the policy to people you choose to look after it for the people you want to benefit. A trust has three roles: the settlor, who puts the asset into the trust (you), the trustees, who manage it, and the beneficiaries, who benefit from it.
Once the trust is in place, the trustees become the legal owners of the policy. You still pay the premiums, and when you die the trustees make the claim and manage the payout for the beneficiaries. A trust decides who the money goes to; it doesn’t change how much cover you have.
Without a trust, a single life policy pays into your estate. The money could then take a long time to reach the person you want and could be subject to Inheritance Tax. A policy written in trust isn’t counted as part of your estate, so it can be paid outside probate and Inheritance Tax.
Most kinds of life cover can go in trust, including term, whole of life and over 50s policies. Some can’t: Legal & General’s Income Protection Benefit and Scottish Widows Protect income protection are two examples.
Why people put life insurance in trust
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The payout can arrive soonerMoney in an estate usually can’t be shared out until probate or letters of administration are granted. Legal & General says a policy in trust could pay out within a couple of weeks of the death certificate being issued.
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It can stay out of your estateWithout a trust, the payout from a policy on your own life forms part of your estate when you die, and Inheritance Tax is charged at 40% on the part of an estate above the threshold. A policy in trust isn’t part of your estate.
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You choose who gets the moneyUnmarried partners can’t inherit from each other unless there’s a will, and Legal & General says a cohabiting partner has no legal claim on a policy that isn’t in trust.
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You can set when it’s paidLegal & General says a trust can pay out on your death or on a set date, such as when a child turns 18. That can help if you’re buying life insurance to protect your family.
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Who’s involved: settlor, trustees and beneficiaries
- The settlor is you, the person who puts the policy into the trust. With many insurers’ forms, including Aviva’s, LV=’s and Vitality’s, you automatically become a trustee too.
- The trustees own the policy, keep the trust deed safe, make the claim when you die and manage the payout. They must act in the best interests of the people the trust is for.
- The beneficiaries are the people who benefit from the trust. Legal & General says there are no rules on who they can be: a partner, a child, a relative, a friend or a charity.
MoneyHelper suggests having at least two trustees, but probably no more than three or four. Aviva says any adult of sound mind can be a trustee, and Beagle Street and Virgin Money set a minimum age of 18. As you’ll usually be a trustee yourself, Aviva suggests appointing at least one other person to manage the trust when you die.
Types of trust for life insurance
Insurers name their trust forms differently, but most are one of these types or a mix of them. The table further down shows which ones each insurer offers.
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Discretionary trustYou name the people who could benefit, and the trustees can decide which of them is paid, how much and how often, depending on the trust deed. Legal & General’s trustees use your letter of wishes as a guide.
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Flexible trustHas two types of beneficiary: default beneficiaries and discretionary beneficiaries. If the trustees make no payments to the discretionary beneficiaries by the end of the trust period, what’s left goes to the default beneficiaries.
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Absolute trustThe beneficiaries are chosen when the trust is created and can’t usually be changed later. Aviva’s Bare Trust is similar: neither the beneficiaries nor their shares can be changed once it’s set up.
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Survivor’s trustFor joint policies. The trustees can pay the surviving partner if they’re still alive 30 days (Legal & General) or 31 days (Aviva) after the first death.
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Split trustThe death payout goes into the trust, while illness benefits such as critical illness cover or terminal illness payouts can still go to you. All of Legal & General’s trusts are split trusts.
How to put life insurance in trust
You can usually do it when you apply or later: Legal & General, for example, lets you put a policy in trust when you take it out or at any time afterwards. A trust only helps if it’s in place when you die, so it’s worth doing early.
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1. Choose the type of trustDecide who should benefit and how much flexibility you want. For a joint policy, look for a survivor’s trust or a form that allows joint policyholders.
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2. Pick your trusteesChoose people you trust who are likely to be around and able to act. Ask them first and tell them where the documents will be kept.
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3. Fill in the insurer’s formMany insurers provide their own trust form or an online tool (see the table below). Some forms must be signed in front of an independent witness, such as Guardian’s.
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4. Send it and keep the deed safeSend the completed form to your insurer. Your trustees keep the trust deed safe; insurers such as Forester Life and Vitality ask for it when the trustees claim.
A trust usually can’t be undone: Aviva says that once a trust has been set up, you can’t simply cancel it. If your affairs are complex, or you want the trust for Inheritance Tax planning, consider legal or financial advice first.
Insurers that offer life insurance trusts
We checked what each of the 39 insurers and brands we review says about trusts: which trust forms they offer, how you set one up and any limits. Several banks and supermarkets use another insurer’s trusts, such as Aviva’s, Legal & General’s or Scottish Widows’. Select a name to read the trust section of that insurer’s review.
| Insurer | Trusts offered | How to set it up | Worth knowing |
|---|---|---|---|
| Assura Protect | Flexible Trust | Trust forms on Assura’s website or by phone; post the completed form back or submit it in the Annabel app | You’re automatically a trustee and should name at least one more; the trust fund can’t be paid to you |
| Assurity | Not published | Howden Life & Health’s online trust-form service lists Assurity: Howden fills in the form for you to sign and have witnessed, then you send it to the insurer | The policy can’t be transferred; the terms say a trust may be appropriate, with independent legal advice. Howden’s service needs trustees with a UK address |
| Aviva | Discretionary Gift Trust (Protection) and, for joint policies, the Survivor Trust; Aviva’s trust guide also describes a Bare Trust | Fill in the application form and send or email it to Aviva | For the Life Insurance Plan and Over 50s, not the Critical Illness Plan or Free Parent Life Cover; a policy assigned to a lender can’t go in trust |
| Bank of Scotland | Scottish Widows offers eight trusts for Scottish Widows Protect policies | Bank of Scotland says a solicitor can help you write the policy in trust | Scottish Widows Protect income protection can’t be written in trust. A sole policyholder who is the person covered can nominate beneficiaries before the policy starts instead |
| Barclays | Legal & General’s Absolute, Discretionary, Survivor’s Discretionary and Flexible trusts | Barclays points you to Legal & General’s free trust service and helpdesk | Barclays says it’s a good idea to do it from the start, but it can be done at any time; both holders of a joint policy must agree |
| Beagle Street | Life Policy Trust for one policyholder; its adviser site also has a Discretionary Survivor’s Trust form for joint policyholders | Free trust tool; send Beagle Street a copy of the form by post or email | Beagle Street says it currently only writes single life policies in trust. Up to four trustees; critical or terminal illness claims are still paid to you |
| Best Insurance | Not published | Not published | The terms say a payout on a policy in trust is paid into the trust, and the trustees must provide the trust deed when claiming |
| Blueberry Life | Not published | Setting up a valid trust is your responsibility, and you may want independent advice | The policy can be placed in trust or assigned so the payout goes to a specific person or company |
| British Seniors | Flexible Trust, its only trust deed | Flexible Trust form and guide, for new or existing policies; return the deed by Freepost | Single policies only; putting a policy in trust removes the Funeral Benefit Option and can’t be undone |
| Co-op Insurance | Not published | The over 50 plan can be put into trust at any time. L&G can’t advise on trusts and recommends a financial or legal adviser | L&G pays a claim on a policy in trust to the trustees; the separate critical illness policy can’t be issued or assigned into a trust |
| Forester Life | Not published | Tell Forester Life if the plan is put under trust; the Key Features suggest a solicitor for legal advice | Forester Life needs the original trust deed, and any deeds changing it, before paying the trustees |
| Guardian | Guardian Discretionary Split Trust | Form from Guardian’s online literature library or by email; sign it before an independent witness and email a copy back | Illness benefits stay with you unless you give the terminal illness benefit away, which can’t be changed. Payout Planner, a beneficiary nomination made when you apply, is the alternative |
| Halifax | Scottish Widows offers eight trusts for Scottish Widows Protect policies | A new policy may go into trust as part of the application; Halifax suggests a legal professional to set up a trust deed | Plan & Protect Life Cover pays your estate unless the right to the money is transferred, for example by a trust; Scottish Widows Protect income protection can’t go in trust |
| HSBC Life Closed to new business | Chesnara Life Flexible Trust, with a Letter of Wishes form | No charge for the Flexible Trust, which is for existing Chesnara life or life and critical illness policies | Critical illness benefits are kept for you. Joint policies: HSBC Life and Chesnara say there’s no suitable trust, but Chesnara’s trust guide shows where a second settlor’s details go |
| Legal & General | Absolute, Discretionary, Survivor’s Discretionary and Flexible trusts, all split trusts | Free trust service; the Online Trust Hub helps you choose and pre-fills the form to print and send back | Over 50s policies can go in trust at any time; Income Protection Benefit and Independent Critical Illness Cover can’t |
| Lloyds Bank | Scottish Widows offers eight trusts for Scottish Widows Protect policies | Lloyds protection experts help set up a trust; there should be no cost for a new policy set up directly in trust, though a solicitor or adviser could charge | Once a policy is in trust it can’t be removed; Scottish Widows Protect income protection can’t be written in trust |
| LV= | Fixed, flexible and split trusts; no discretionary trusts | Online Trusts tool for protection policies, when the policy starts or later | Opt-in survivorship clause for joint first-death policies, chosen at set-up; a trust overrides any beneficiary nomination |
| National Assurance | Not published | Howden Life & Health’s online trust-form service lists National Assurance; Howden fills in the form for you to sign, and trustees need a UK address | The policy can’t be transferred; the terms say a trust may be appropriate, with independent legal advice |
| National Friendly | Discretionary or absolute trust on the England and Wales form; separate forms for Scotland and Northern Ireland | Complete and return a trust form, sent on request; for single or joint, new or existing policies | On Over 50s Life Cover a trust means no terminal illness benefit, and you choose a trust or a nomination of up to £5,000, not both |
| Nationwide | Legal & General’s Absolute, Discretionary, Survivor’s Discretionary and Flexible trusts | A free appointment with an L&G adviser can help put a plan in trust; L&G says there’s no added cost | Both holders of a joint policy must agree; the separate critical illness policy and Income Protection Benefit can’t go in trust |
| NatWest | Aviva Discretionary Gift Trust (Protection) and, for joint policies, Aviva Survivor Trust; Aviva’s 2023 guide also describes a Bare Trust | Fill in Aviva’s application form and send it to Aviva | For the Life Insurance Plan and Over 50s, not the Critical Illness Plan; a policy assigned to a lender can’t go in trust |
| NFU Mutual | Not published | NFU Mutual’s financial advisers can advise on writing life cover in trust; existing customers can ask for a copy of any trust deed NFU Mutual holds | The Life Insurance+ separation benefit can’t be used under trust, and global treatment and fracture cover can’t be gifted under trust |
| OneFamily | OneFamily Flexible Trust, a split trust made for Over 50s Life Cover | Trust form and guide on OneFamily’s adviser documents page | Name at least one more trustee; any terminal illness payout stays with you. A nomination of up to £5,000 still counts in the estate for Inheritance Tax |
| Post Office | One template deed, a discretionary trust, which may not always be suitable | Post Office suggests getting advice before you complete it | Very difficult to undo once in place; an Over 50s policy in trust pays the trustees |
| Royal Bank of Scotland | Aviva Discretionary Gift Trust (Protection) for single or joint policies, and Aviva Survivor Trust for joint policies | Fill in Aviva’s application form and send it to Aviva | For the Life Insurance Plan and Over 50s, not the Critical Illness Plan; a trust can’t simply be cancelled once set up |
| Royal London | Discretionary Trust and Bare Trust forms, plus a Letter of Wishes | Download the forms; Personal Menu and Pegasus Whole of Life plans can go in trust online during the application, with no signatures | Beneficiary nomination (up to five people, single life covers, set when you apply) is an alternative; an Over 50 policy with the Funeral Benefit Option can’t go in trust unless the option is cancelled |
| Sainsbury’s | Not published | Sainsbury’s refers you to a financial or legal adviser; for over 50s, setting up a trust means completing a trust deed | The separate Critical Illness Cover policy can’t be issued or assigned into a trust; Sainsbury’s guide says a trust is irrevocable |
| Santander | Aviva Discretionary Gift Trust (single or joint policies) and Aviva Survivor Trust (joint); Aviva’s guide also describes a Bare Trust | Santander links to Aviva’s trust guide and both trust forms; the Survivor Trust deed can be completed online for new policies | Both forms say a trust can’t be cancelled once set up; a policy assigned to a lender can’t go in trust |
| Scottish Widows | Eight trusts for Scottish Widows Protect, including Flexible Split, Flexible (Discretionary) Gift, Flexible Survivorship and Absolute Gift trusts | E-signature and PDF trust forms on the adviser website | If you’re the only policyholder and the person covered, beneficiary nomination (up to five people, set before the policy starts) is an alternative; income protection can’t be written in trust |
| Shepherds Friendly | Not published | Over 50s: a nomination form if the total sum assured is £5,000 or less; above that, a trust form | A plan not written in trust forms part of your estate and may be subject to Inheritance Tax |
| Smart Insurance | Flexible Trust, its only trust deed; a split trust | Smart’s own form, for new or existing policies; the original deed comes back by recorded delivery once recorded | Single policies only; you can’t be a beneficiary; placing a policy in trust is irrevocable |
| SunLife | Not published | SunLife’s guide says your provider normally refers you to someone who can set up the trust when you take out the policy | The Guaranteed Over 50 Plan can be written in trust, but not while the Funeral Benefit Option is in place |
| Tesco Insurance | Aviva Discretionary Gift Trust (Protection) and, for joint policies, Aviva Survivor Trust | Complete the insurer’s trust form when you take out the policy and send it to Aviva | Not available for the Critical Illness Plan or Free Parent Life Cover |
| The Exeter | Exeter Life Cover Trust, a discretionary trust under the law of England and Wales | The Exeter’s own trust form, which can be completed at any time | Single life policies only; can’t be reversed. Beneficiary nomination of up to five people is the alternative |
| TSB | Legal & General’s Absolute, Discretionary, Survivor’s Discretionary and Flexible trusts | L&G’s trust service is free; for over 50s, send L&G the trust form | TSB’s Critical Illness Cover can’t be issued or assigned into a trust |
| Ulster Bank | Aviva Discretionary Gift Trust (Protection) and, for joint policies, Aviva Survivor Trust (Protection) | Fill in Aviva’s application form and send it to Aviva, after taking legal and financial advice | For the Life Insurance Plan and Over 50s, not the Critical Illness Plan; a policy assigned to a lender can’t go in trust |
| Virgin Money | Life Policy Trust: the trustees decide when to pay out and how much each beneficiary gets | Free trust form; send it back by email or post | One policyholder only; a policy assigned as security on a loan can’t go in trust; illness benefits are paid to you |
| Vitality | Draft Absolute and Discretionary trusts, both split trusts | Advisers can put new plans in trust online with no signatures; the Plan Summary suggests a solicitor | Serious illness and disability benefits stay with you; Vitality’s no-probate payment doesn’t apply to policies in trust |
| Zurich | Absolute, Discretionary and Discretionary Survivorship trusts | Download a deed, complete it and return it (DocuSign copies aren’t accepted); the Discretionary trusts can be completed online without signatures for Personal Protection and Whole of Life | The Absolute Trust doesn’t let you change beneficiaries; the Survivorship trust is for joint first-death policies |
Listed alphabetically, not ranked. Compiled on 3 October 2026 from each insurer’s published information, checked on 24 September 2026, 25 September 2026 and 3 October 2026. The documents behind each row are listed in our review of that insurer. A dash means we didn’t find the information in the insurer’s published documents.
Life insurance, trusts and Inheritance Tax
Inheritance Tax is a tax on the estate of someone who has died. There’s normally none to pay if the estate is worth less than £325,000, or if everything above that threshold goes to a spouse, civil partner or charity. Above the threshold, the standard rate is 40%.
- Nil-rate band
- £325,000
- Residence nil-rate band
- £175,000
- Standard rate above the threshold
- 40%
The £325,000 nil-rate band is set from 6 April 2009 to 5 April 2031 and the £175,000 residence nil-rate band from 6 April 2020 to 5 April 2030, so both apply in the 2026–27 tax year. If you leave your home to your children or grandchildren, your tax-free threshold can rise to £500,000, as long as your estate is worth less than £2 million.
A payout from your own policy that isn’t in trust counts towards your estate, so a large policy could take an estate over the threshold. In trust, the payout usually stays outside your estate, and it can be used to pay an Inheritance Tax bill without adding to it. That helps because executors usually have to pay Inheritance Tax before they get probate. Our whole of life insurance calculator estimates the bill on your own estate, which is the amount a policy in trust would need to pay.
Whole of life policies are often used for Inheritance Tax planning. A form of decreasing term cover called gift inter vivos insurance can cover the tax that may be due if you give money or assets away and die within 7 years of the gift.
Aviva explains that once a policy is in trust and you can no longer benefit from it, HMRC treats the premiums you pay as gifts, but they’ll usually be exempt, either as normal expenditure out of income or under the annual exemption. Regular payments from your monthly income are tax free if you can afford them after your usual living costs, and you can give away £3,000 of gifts each tax year without them being added to your estate.
Disadvantages of putting life insurance in trust
Writing a policy in trust has real advantages, but there are drawbacks to weigh up before you sign.
Advantages
- The payout can be made outside probate, so your family may get it sooner
- It’s usually kept out of your estate for Inheritance Tax
- You decide who benefits, including an unmarried partner
- You can set when the money is paid, such as when a child turns 18
- The payout can pay an Inheritance Tax bill without adding to it
- It’s often free: Legal & General, Virgin Money and Beagle Street say their trust service or form is free
Disadvantages
- It usually can’t be undone: Aviva says you can’t simply cancel a trust once it’s set up
- You have less control, because the trustees own the policy and may need to agree to decisions
- With an absolute trust, future children or a new spouse after a divorce can’t automatically be added
- Tax can still apply, for example if money stays in the trust for a long time
- Aviva and Virgin Money say a policy assigned to a lender, such as a mortgage provider, can’t go in trust
- Some features can be lost: British Seniors’ Funeral Benefit Option ends and National Friendly’s over 50s terminal illness benefit can’t be claimed
- Some trust forms are for single policies only, such as Smart Insurance’s and Virgin Money’s
- Paying a solicitor or financial adviser to set it up could mean extra fees
Trusts have their own tax rules. Trustees pay a charge on each 10-year anniversary if the trust holds relevant property worth more than the Inheritance Tax threshold, and up to 6% can be charged on assets transferred out of a trust. Aviva says a trust holding only a life insurance policy has a very small value while you’re in good health, so a 10-year charge is unlikely.
Does a life insurance trust need to be registered?
You may have to pay a £5,000 penalty if you fail to register a trust with HMRC’s Trust Registration Service when you should. But a trust that only holds life insurance paying out on death, illness or disability is excluded, whether the policy is term or whole of life. The exclusion stops applying if:
- the trust also holds other assets, or a policy that doesn’t meet the conditions
- the policy is surrendered and the cash is kept in the trust
- the payout is still in the trust two years after the death, as trustees have two years to pay it out before registration is needed
- the trust has a UK tax liability
If a trust created after 6 October 2020 does need registering, the deadline is usually 90 days after it was created or became liable for tax. Aviva says registration is the trustees’ responsibility.
Alternatives to a trust: naming beneficiaries
Some insurers let you name beneficiaries on the policy itself. LV= lets you nominate up to 10 people on Life Protection and pays them without waiting for probate. Royal London (up to five people, on single life covers), Scottish Widows Protect (up to five) and The Exeter (up to five) offer nominations too, set when you apply.
Guardian says its Payout Planner nomination suits people with simple affairs, and that a trust may be more suitable for complex estates or Inheritance Tax planning. The Exeter says much the same, adding young children without guardianship arrangements. At LV= and The Exeter, a trust set up later replaces any nomination.
National Friendly and OneFamily, both friendly societies, accept nominations of up to £5,000 under the Friendly Societies Act 1992. OneFamily says a nominated payout is quicker but still counts in the estate for Inheritance Tax, while The Exeter says its nominated payouts don’t normally form part of the estate. So check how your insurer treats a nomination before relying on it. Our guide to life insurance beneficiary rules explains who gets the money with and without a trust, and how to change a beneficiary.
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Life insurance in trust questions
The policy is held by trustees you choose, for the beneficiaries you choose. The trustees become the legal owners of the policy, and when you die they make the claim and manage the payout for the beneficiaries.
The main ones are that it usually can’t be undone, the trustees own the policy so you have less control, and tax charges can still arise, for example if money stays in the trust for a long time. Some trust forms don’t work for joint policies, and some policy features can be lost. See the full list of advantages and disadvantages.
Often not. Legal & General says there’s no added cost, and Chesnara Life makes no charge for its Flexible Trust. Lloyds Bank says there should be no cost when a new policy is set up directly in trust, but using a solicitor or financial adviser could mean extra fees.
Usually, yes. Legal & General lets you do it at any time after you take the policy out, and Aviva’s trusts can be used for existing policies. Aviva, Royal Bank of Scotland and Virgin Money say you can’t put a policy in trust if you’ve assigned it to a lender as security for a loan, for example to your mortgage provider. If your cover is there to repay a mortgage, see mortgage life insurance.
Usually not. Legal & General says a trust can’t usually be cancelled once it’s been created, and Lloyds Bank says that once a policy is in trust, you can’t remove it. That’s why it’s worth choosing the type of trust and the beneficiaries carefully.
Yes, with the right trust. Without one, a joint life policy normally pays the surviving policyholder. A survivor’s trust lets the trustees pay the surviving partner if they outlive the first by 30 days with Legal & General or 31 days with Aviva. Legal & General needs both policyholders to agree. Some insurers’ forms are for single policies only, so check the table above.
Not always. Many insurers provide trust forms you can complete yourself, such as Zurich’s draft trusts. Some recommend advice first: Aviva says to get legal and financial advice before putting a policy in trust.
People you trust to deal with the insurer and look after the money for your beneficiaries. MoneyHelper suggests at least two trustees, but probably no more than three or four. Trustees must act in the best interests of the people the trust is for.
A policy written in trust under section 11 of the Married Women’s Property Act 1882. HMRC’s manual says these policies create trusts only for the spouse or civil partner and children of the person covered.
Usually not, if it only holds a life policy that pays out on death, illness or disability. It may need registering later, for example if the payout is still in the trust two years after the death.
This page is for general information only and should not be considered financial advice. The right cover depends on your personal circumstances.
Sources
The facts on this page come from these sources.
- GOV.UK: Trusts and taxes: overview (settlor, trustee, beneficiary) (opens in a new tab); IHTM20012 - Life policies: introduction: life policies and Inheritance Tax (Inheritance Tax Manual) (opens in a new tab); How Inheritance Tax works: overview (thresholds, rates, who pays) (opens in a new tab); Trusts and taxes: types of trust (opens in a new tab); Inheritance Tax thresholds and interest rates (nil rate band and residence nil rate band tables) (opens in a new tab); How Inheritance Tax works: passing on a home (opens in a new tab); How Inheritance Tax works: rules on giving gifts (allowances, normal expenditure out of income, 7 year rule, taper relief) (opens in a new tab); Trusts and Inheritance Tax (HMRC guidance: relevant property, 20% entry charge, 6% exit and 10 year anniversary charges) (opens in a new tab); Check if you need to register a trust (Trust Registration Service, Schedule 3A exclusions) (opens in a new tab); TRSM23030 - Excluded express trusts: insurance policies and compensation pay-outs (Trust Registration Service Manual) (opens in a new tab); TRSM23010 - Excluded express trusts: introduction (Trust Registration Service Manual) (opens in a new tab); IHTM20181 - Life policies: Married Women's Property Act policies: introduction (Inheritance Tax Manual) (opens in a new tab) · gov.uk, accessed 26 September 2026.
- Legal & General: Putting life insurance in trust (guide) (opens in a new tab) · legalandgeneral.com, accessed 26 September 2026.
- Aviva: Aviva Trust (writing a life insurance policy in trust) (opens in a new tab) · aviva.co.uk, accessed 24 and 26 September 2026.
- MoneyHelper: What is life insurance? (opens in a new tab); What is a trustee? (opens in a new tab); Setting up a trust fund (opens in a new tab); When do I have to pay Inheritance Tax and which exemptions apply? (blog) (opens in a new tab); A guide to Inheritance Tax in the UK (opens in a new tab) · moneyhelper.org.uk, accessed 26 September 2026.
- Citizens Advice: Dealing with the financial affairs of someone who has died (England) (opens in a new tab); Making a will (England) (opens in a new tab) · citizensadvice.org.uk, accessed 26 September 2026.
- Insurer documents: Aviva, Beagle Street, British Seniors, Forester Life, Guardian, HSBC Life, Legal & General, Lloyds Bank, LV=, National Friendly, OneFamily, Royal London, Scottish Widows, Smart Insurance, SunLife, The Exeter, Virgin Money, Vitality, Zurich. Each insurer’s policy documents, claims figures and announcements are listed in our review of that insurer.
Guides in this topic
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Is life insurance taxable?
Income Tax and Inheritance Tax on life insurance payouts, policies in trust and policies with a savings element.
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Gift inter vivos insurance
How gift inter vivos cover works with the 7-year rule and taper relief, and what to check before you buy or use it.
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How much can you gift tax free?
The UK tax-free gift allowances, the 7-year rule for larger gifts to family and how Capital Gains Tax applies to gifts of property.
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Is life insurance tax deductible?
Whether UK life insurance premiums are tax deductible, from personal policies to relevant life cover, key person cover and employer schemes.
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Life insurance beneficiary rules
Who gets a UK life insurance payout: trusts, nominations, the estate, joint policies, children and changing beneficiaries.
Related pages
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Family life insurance
Cover that helps your family with everyday costs.
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Whole of life insurance
Lifelong cover and how it differs from term cover.
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Joint life insurance
One policy for two people, compared with two single policies.
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Mortgage life insurance
Match your cover to your mortgage and protect your home.
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Over 50s life insurance
Guaranteed acceptance for ages 50–85, and what to check before you buy.
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Term life insurance
Cover for a set number of years, with level or decreasing cover.
