Are All Policies Placed in Trust?
At Spirit, we’re here to make life insurance straightforward and stress-free. One question we often get is: Are all policies placed in trust? The short answer is no - not automatically. But if you do want to (it is recommended by our advisors) place your policies in trust, it is completely free! We give you the flexibility to decide what works best for you and your family.
When you choose a Spirit policy - whether it’s term life insurance (ages 20-65) or guaranteed issue whole of life insurance (ages 65-90) - you have the option to place it in a trust for free! It’s not a requirement, but it’s a smart way to ensure your loved ones get the most from your coverage. Setting up a trust is simple, and our team is ready to help you every step of the way.
What does a trust mean for your policy?
- Faster payouts: Your beneficiaries get the money in weeks, not months, bypassing probate delays.
- Tax savings: Keeps your payout separate from your estate, potentially reducing inheritance tax.
- Control: You decide who gets the funds and how they’re used.
A trust ensures your family receives the full amount quickly and tax-efficiently. Without it, probate and taxes could eat into what you leave behind. The choice is yours - and we’re here to help you make it.
Ready to explore your options? Get your rates in just 10 minutes and see how easy it is to add a trust to your Spirit policy. Plus, eligible policies come with a free legal will worth £898 - because we’ve got all your bases covered.
Still have questions? Email our customer success team at info@spiritcover.co.uk or check your rates now to get started. With Spirit, life insurance is fast, flexible, and tailored to you.