insurance trust

noun
: an agreement providing for the receipt and distribution of life insurance proceeds by a trustee

Useful english dictionary. 2012.

Look at other dictionaries:

  • insurance trust — see trust Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • Insurance Trust — An irrevocable trust set up with a life insurance policy as the asset, allowing the grantor of the policy to exempt asset away from his or her taxable estate. Once the life insurance policy is placed in the trust, the insured person no longer… …   Investment dictionary

  • insurance trust — See life insurance trust …   Ballentine's law dictionary

  • Life insurance trust — A life insurance trust is a trust that is set up for the purpose of owning a life insurance policy. The idea is that if it is an ILIT, an irrevocable life insurance trust, that the trust itself is the policy holder and owner, the payer is the… …   Wikipedia

  • Disability Insurance Trust Fund — An account within the Social Security Trust Fund used to pay benefits to individuals deemed to be disabled and incapable of productive work. The Disability Insurance Trust Fund receives deposits from FICA considered to be over and above the… …   Investment dictionary

  • Old-Age And Survivors Insurance Trust Fund — An account within the Social Security Trust Fund used to pay benefits to retired workers, the beneficiaries and their children. The Old Age and Survivors Insurance Trust Fund receives deposits from FICA considered to be over and above the amount… …   Investment dictionary

  • life insurance trust — A trust set up to own a life insurance policy, so that the policy proceeds arent subject to estate tax when the original policy owner dies. Life insurance trusts are usually irrevocable. Category: Wills, Trusts & Estates → Estate Tax Nolo’s Plain …   Law dictionary

  • irrevocable life insurance trust — (ILIT) See: life insurance trust Category: Wills, Trusts & Estates → Estate Tax Nolo’s Plain English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009 …   Law dictionary

  • unfunded life insurance trust — noun : a life insurance trust under which the insured agrees to pay the premiums on the subject policies during his lifetime …   Useful english dictionary

  • Hospital Insurance Trust Fund — This trust fund is part A of Medicare, the United States health insurance program for people age 65 and older and certain disabled persons. It is financed through payroll taxes derived from current workers and employers. This trust fund is… …   Investment dictionary

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