TERMIUM Plus®

The Government of Canada’s terminology and linguistic data bank.

INSURANCE TRUST [1 record]

Filter results by subject field Alphabetical list of terms

Filter results by subject field

Alphabetical list of terms

Record 1 2003-04-28

English

Subject field(s)
  • Insurance
  • Life Insurance
DEF

Irrevocable trust created to receive the proceeds of a life insurance policy, normally established to avoid paying estate taxes. Trust assets are payable to the beneficiary at the death of the insured. A life insurance trust provides additional liquidity to the insured, but has the disadvantage that the person named as beneficiary cannot borrow against the policy, and must survive a gift to the trust by three years.

French

Domaine(s)
  • Assurances
  • Assurance sur la vie

Spanish

Campo(s) temático(s)
  • Seguros
  • Seguro de vida
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