Who receives the money when a policy in trust pays out?
The insurer pays the trustees, who then pass the money to the beneficiaries in line with the trust's terms. Because the money goes to the trustees rather than your estate, it can usually be paid without waiting for probate. Who ultimately benefits depends on the type of trust and who is named.
Making the claim
Trustees provide the death certificate, the trust deed and their identification.
If you are also a trustee
Surviving trustees can claim. That is one reason to appoint more than one.
Tax
The tax treatment depends on the trust and your circumstances. Trustees may need professional advice.
This article is general information about UK protection insurance, not personalised financial advice. Policy terms vary between insurers and products, so always check your own policy documents.
Last updated 27 October 2026