When you purchase life insurance with Protect Line you will be offered our complimentary Trust service. If you choose to put your life insurance policy into Trust you legally state who receives your life insurance payout. A Trust separates your life insurance policy from the rest of your Estate, meaning it could reach your loved ones faster and may not be subject to inheritance tax.
If you do not put your life insurance policy in Trust it will form part of your Estate. Writing a Will can be a legal way to inform how you would like your life insurance proceeds to be distributed and spent. Protect Line offers a discounted Will writing service, through our partner Farewill, which can be much cheaper than using a high-street lawyer firm.
If you do not put your life insurance either in Trust, or write a Will, your life insurance will be subject to intestacy rules and may be given to someone you do not want.