MLchartDataset catalogue

Life insurance trust

Term · Law · MLC-T-LAW-003042

A legal arrangement where a trust is established to own and manage one or more life insurance policies. The trust becomes the beneficiary of the policy proceeds, which are then distributed to the trust's beneficiaries according to the trust document. This structure can remove the policy proceeds from the insured's taxable estate.

Table 1. Record
IdentifierMLC-T-LAW-003042
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-003042",
  "term": "Life insurance trust",
  "field": "Law",
  "definition": "A legal arrangement where a trust is established to own and manage one or more life insurance policies. The trust becomes the beneficiary of the policy proceeds, which are then distributed to the trust's beneficiaries according to the trust document. This structure can remove the policy proceeds from the insured's taxable estate.",
  "url": "https://mlchart.com/terminology/law/life-insurance-trust/"
}

Record 2,995 of 5,441 in Law terminology (MLC-0107). Request the full dataset.