What does 'in trust' mean when buying life insurance?

I have heard that a life insurance policy can be put 'in trust'. What does this mean and what are the benefits?

Asked by katie.jenkins

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Answered by Sue Hextall
I can't go into the technical details but my husband's life insurance policy was written in trust with our son as the beneficiary. It meant that the payout would not form part of my husband's estate, so would not be subject to inheritance tax. Our broker included this service free of charge when setting up the policy. | 10.27.10 @ 16:06
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$commenter.renderDisplayableName() — {comment} | 11.21.17 @ 10:22
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Sue Hextall

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