Can I change the beneficiaries on a life assurance policy once it has been written in trust?

I am planning on getting married in 2012, but would like to get a policy in place now.

Asked by hullscott

3 Answers

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Yes you can - you need to contact your insurer or financial adviser and they will send you the forms, it is quite simple but make sure you get advice before you sign anything | 11.23.10 @ 11:13
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Answered by Paul Richardson, IFA in Wotton under Edge, GLOUCESTERSHIRE
Just to clarify - if it is placed in a bare trust then you may struggle ...

A discretionary trust will give you the power to do this | 12.02.10 @ 14:41
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Answered by Darren Smith, IFA in Basingstoke, HAMPSHIRE
as Paul has commented you need a flexible or discretionary trust as that enables changes to beneficiaries and will often include classes of default beneficiaries whereas a bare or absolute trust can never be changed. | 12.07.10 @ 18:31
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