A business trust should play an important part in your business protection strategy; in many cases, writing a life insurance policy under a business trust from outset will ensure that the claim proceeds will be paid quickly and to the right people, so that your business can make a smooth transition during a difficult time, without being forced into financial difficulty.
What is a Trust?
In general, a trust is a legal arrangement, allowing the current owner of whatever is being placed into trust to transfer legal ownership to another person or company.
The person transferring ownership is called the settlor, and the persons or company taking over ownership are called the trustees.