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Boring topic alert - Life insurance query

(2 Posts)
UpdateRequired Thu 16-Mar-17 19:50:48

I'm just about to take out a new life insurance policy, I had a cash builder which has just came to end and sadly no longer get available. I'm a LP but I'm unsure whom to name as beneficiary. In the event of an untimely death my parents would care for DS therefore I'd want them to have the cash to provide for him. However what would happen if, after a few years they couldn't due to ill health? Do I name DS as beneficiary and would it then be put in some sort of trust?
Any advice would be appreciated, I am clueless in these matters blush

Allthebestnamesareused Sat 18-Mar-17 18:18:19

Name DS as beneficiary and appoint parents as Trustees together with a younger sibling? Or friend in cas as you say your parents die shortly after while your child is still a minor. The insurance co will have a very short form discretionary trust. Make a Will too

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