Life-Of-Another Policy

As an alternative to writing a life insurance policy ‘in trust’ it is possible to set up a ‘life of another’ policy.

A Life-of-Another policy allows a spouse, civil partner or partner (hereafter called the policy owner) to take out a life insurance which will pay out in the event of another’s death (the life assured).

On the death of the life assured, the policy owner will receive a pay-out directly, negating the need to purchase a policy and write it ‘in trust’.

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