Life insurance is an integral part of financial planning and is essential in providing security to your loved ones if an unforeseen event was to occur. At times however, having a life insurance policy may not be sufficient. You need someone who you can trust to collect the insurance proceeds with minimum delay from the insurance company and to manage as well as distribute the money to your beneficiaries in accordance with your wishes. This is imperative especially when your beneficiaries are minors. It is therefore important that you find an experienced and fully committed trustee who makes the financial well-being of your beneficiaries their top priority.

The insurance trust does not form part of your estate – and consequently is not subject to the claims on the estate by creditors and other claimants. Hence, you can rest assure that the funds in your trust would be readily available for your loved ones even prior to obtaining the grant of probate or the letter of administration. You can create an insurance trust by an absolute assignment of your life insurance policy to OSK Trustees.