Life insurance query

inca1000

I have taken out life insurance in the event of my ex husbands death to ensure our child is looked after. The plan is in his name, but I am paying the premiums.

I have received a form which i need to state - the settlor, the trustee and the beneficiary - who would these people be?

Is ex husband settlor, I am trustee, would our son be beneficiary in the event of my death.

Thanks

kingstreet

You appear to have a trust form.

Was the plan written "own life, own benefit" or did you write it on a life of another basis, with you as the assured, the policy owner and him as the life assured, the one on which the cover is taken?

It should be life of another, or written in trust, not both.

If written own life own benefit, the trust should be written by him, the settlor of the policy, with you and a couple of others as trustees and with the beneficiaries of his (your) choice, you and in the event of your earlier death, your child(ren).