New research has found that a minimum of 78.9% of single life term policies were not written in trust last year.
According to a report by Swiss Re in conjunction with Insuring Change, Life claims: a beneficial direction, 17% of all new term policies were written in trust in 2022, which the reinsurer said implies a maximum of 21% of single own life policies were placed in trust in the same period, which is up from 16%. While Swiss Re detailed that a few of the trust cases will be for joint policies to deal with the possibility of both policyholders dying within a short time of each other, the reinsurer said it assumes that this will be roughly offset by other means of securing ownership by writing p...
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