Does your Declaration of trust for a Relevant Life policy contain a continuation option?
For protection policies only07 January 2019 Back to results
Yes. If the employee changes job, the trust provisions allow a subsequent employer to take over the funding of the policy payments. The policy will continue to qualify as a relevant life policy.
Trusts establish legal rights and entitlements and might have material financial and tax implications for the settlor, trustees and beneficiaries. Aegon UK isn't authorised to provide legal advice, so you should take your own legal advice before setting up a trust, to make sure that it meets your requirements. Our trusts have been drafted for use by UK domiciled individuals.