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A life insurance trust is an irrevocable, non-amendable trust which is both the owner and beneficiary of one or more life insurance policies. [1] Upon the death of the insured, the trustee invests the insurance proceeds and administers the trust for one or more beneficiaries.
The First Life Directive of the European Union includes tontines as a permitted class of business for insurers. However, this does not mean that tontines should be considered insurance contracts. According to the Supreme Court of the United States the nature of "insurance" involves some investment risk-taking on the part of the company ...
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person.
Baynes, Thomas Spencer, The Encyclopædia Britannica: a dictionary of arts, sciences, and general literature, Volume 13, H.G. Allen, 1888 Price, Richard, Observations on reversionary payments: on schemes for providing annuities for widows, and for persons in old age; on the method of calculating the values of assurances on lives; and on the ...
"Beach bum trust provisions" may take a variety of forms, such as by requiring a beneficiary to attain a certain job or degree, or by using the beneficiary's own income to determine how much money they can take from the trust fund at a given time. [2]
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Trust metric, a measurement of the degree to which group members trust each other, as in online networking Trusted system , a computerized system relied on to enforce a security policy Web of trust , a system used in cryptography to establish authenticity
In trust law, an express trust is a trust created "in express terms, and usually in writing, as distinguished from one inferred by the law from the conduct or dealings of the parties." [ 1 ] Property is transferred by a person (called a trustor, settlor , or grantor) to a transferee (called the trustee ), who holds the property for the benefit ...