Life insurance trust

Term · Insurance and risk management · MLC-T-INS-002007

A legal arrangement where a trust is designated as the owner and beneficiary of a life insurance policy. This structure allows the policy proceeds to be managed by a trustee for the benefit of heirs, often bypassing probate and potentially reducing estate taxes. The trust document specifies how and when the funds will be distributed.

Table 1. Record
Identifier	MLC-T-INS-002007
Field	Insurance and risk management

Record as JSON

{
  "id": "MLC-T-INS-002007",
  "term": "Life insurance trust",
  "field": "Insurance and risk management",
  "definition": "A legal arrangement where a trust is designated as the owner and beneficiary of a life insurance policy. This structure allows the policy proceeds to be managed by a trustee for the benefit of heirs, often bypassing probate and potentially reducing estate taxes. The trust document specifies how and when the funds will be distributed.",
  "url": "https://mlchart.com/terminology/insurance/life-insurance-trust/"
}

Record 1,937 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.