Life Insurance Trust Document

A life insurance trust is a trust that is started with a life insurance policy as the asset to be kept in the trust. The document which records the details of the arrangement i.e. the rules, the regulations, the beneficiaries, the trustees etc. of the life insurance trust. Given below is a sample of a life insurance trust document.

Sample Life Insurance Trust Document

Name of the trust: Falkner Insurance Trust

Declaration:  I Mr. Henry Falkner, of West Virginia, make this Insurance Trust as on the 23rd of June, 2012.

Name of the trustee: Mr. Willie Maroni

Assets being transferred to the trust:

  • I transfer the all the insurance policies that I own on my life to the trust and the ownership to the trustee.
  • The trustee has the right to purchase any new life insurance policies on my life which will also be place in the trust.

Names of the beneficiaries of the trust: Mr. Jason Falkner

Ms. Martha Falkner

Mr. Jerry Thomas

Mr. Willie Maroni

Mrs. Kari Falkner

The rules and regulations regarding the trust management:

  • The beneficiaries of the policies will be the trust and hence the beneficiaries of the trust.
  • The trustee may pay the premiums for all of the insurance policies held under this trust.
  • On my demise the trustee shall divide the proceeds from the policies (and any other assets that come to the trust on my demise) amongst all of the beneficiaries (those that survive me) of the trust.

Posted in Trust Documents