Extra control over your life insurance
Place your life insurance policy into an Aviva Trust to specify who benefits from any payout once you're gone.
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Choose your Trust
We offer two types of Trust depending on who and how you want to manage your money
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Receive money quickly
Policy payouts should reach your trustees quickly – without being subject to Inheritance Tax Footnote [1]
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Control over your policy
Become a trustee automatically when you set up your Trust to stay in control over your policy
Aviva Trusts are available if you have a Life Insurance Plan or Over 50s life insurance (but not for a Critical Illness Plan or Free Parent Life Cover).
What is a Trust?
A Trust is a legal arrangement that allows you to 'give away' something of value without losing full control over it.
By placing your life insurance policy in a Trust, you can choose who you want to receive the money from any payout – as well as who manages the process after you've gone.
Anything placed in a Trust won't be counted as part of your estate when you die. So any money passed on to your beneficiaries will usually be exempt from Inheritance Tax and money can often be paid to beneficiaries more quickly Footnote [1].
Do you already have life insurance with us?
- View your policy on MyAviva
- Try the MyAviva app
- Make changes to your policy
- Make a claim
- Help and support
How does a Trust work?
There are three different roles you need to nominate people for – the settlor, trustees and beneficiaries.
Settlor
This is the person who sets up the Trust and transfers the policy into it (usually, you).
As the settlor, you specify who you want any money to go to (the beneficiary) and who would look after it if you die (the trustee).
With our Trust options, you’ll also automatically be a trustee. It’s a good idea to appoint at least one other trustee to manage the Trust when you pass away.
Trustees
These are the people who manage the Trust.
The trustees become legally responsible for the Trust and must manage it in the way you set out as the settlor.
If you place your life insurance policy in a Trust, the trustees will be responsible for making any claims and managing any payout on behalf of the beneficiaries.
Beneficiaries
These are the people that benefit from the Trust.
When you pass away, the trustees will receive any money from your life insurance.
They'll then either pass it straight to the beneficiaries or look after it until they can manage it themselves (eg if the beneficiaries are young children).
Our Trusts
We offter two types of Trust for you to choose from, depending on the type of life cover you have and who you'd like to benefit from any payout.
Aviva Discretionary Gift Trust (Protection)
For single or joint Life Insurance policies
This is a Trust that lets you nominate a number of different beneficiaries, including children or grandchildren.
Any children or grandchildren born after you set up the Trust will automatically become potential beneficiaries.
You can change the beneficiaries at any time by writing to the trustees to name who you want to benefit and how you want any money to be divided.
Aviva Survivor Trust (Protection)
For joint Life Insurance policies (except Critical Illness cover)
If you have a joint life insurance policy, where one of you will receive any life insurance payout if your partner dies, our Survivor Trust may suit you.
By placing your policy in the Aviva Survivor Trust, the trustees can pay any money to the surviving partner as long as they’re still alive 31 days after the death of their partner.
If the surviving partner dies within 31 days of the other partner, the trustees can pay the money straight to the beneficiaries of the Trust (perhaps your children or grandchildren). This way, the beneficiaries usually won’t pay Inheritance Tax on the money as part of either yours or your partner’s estate Footnote [2].
Help choosing a Trust
While setting up a Trust can give you more control over who benefits from any money you leave once you're gone, remember that a Trust is a legal arrangement.
Setting up a Trust has tax and legal implications – and once it's been set up, you can't simply cancel it.
Your trustees will also have a duty to your beneficiaries and will be personally liable for any loss to them (e.g. if they don't pass on any payment from your life cover).
To make sure a Trust is the right option for you, it's a good idea to seek independent legal and financial advice before you start, for which there may be a charge. If you don't have a financial adviser, you can find one at unbiased.co.uk. Please be aware that you may need to pay for this advice. Alternatively, you could contact the lawsociety.org.uk for help finding an independent adviser.
Forms
Aviva Survivor Trust (Protection) (PDF 609KB)
Aviva Discretionary Gift Trust (Protection) (PDF 607KB)
Guide for Trustees (PDF 430KB)
Want to make changes to an existing Trust?
You can request trustee or beneficiary changes through these forms:
Deed of Appointment and/or Retirement of Trustees (PDF 937KB)
Looking for protection insurance?
From life insurance to critical illness cover, we have a range of products designed to help protect you and your loved ones during difficult times. These policies offer you a specific type of protection cover and are not savings plans.
Life Insurance 
Also known as 'term life insurance'. Pays a lump sum to help your loved ones pay bills, mortgage repayments, school fees, and any other debts, if you die within the policy term.
Age: 18-77
Cover: Up to £5,000,000
Over 50 Life insurance 
Guaranteed life insurance cover for the rest of your life that pays a lump sum when you die. If you die within the first 12 months of anything but an accident, we’ll pay an amount equal to the premiums you’ve paid, but not the cover amount. We won’t ask you any health questions when you apply.
Age: 50-80
Cover: £5-£100
Critical illness cover 
Pays a lump sum if you or your child are diagnosed with or have surgery for one or the 52 critical illnesses covered by our plan within the policy term and survive for 10 days.
Age: 18-64
Cover: Up to £1,000,000
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