can you specify who a life insurance policy would pay to?

[ilovetochat]

Can you name a person who would benefit rather than legal next of kin?

yes. you name the beneficiary

Yes I think you can. I think you can put it in trust to whoever you want. Ask an IFA of the most tax efficient way of doing this.

Yes you can. You need a seperate form called a trust form.

There are different types of forms for different types of policies.

For a life insurance policy you need a discretionary trust form. Call the provider of your policy and ask for one.

An IFA won't help you as there won't be any income in it for them.

Its worth doing as it means that you can specify who gets the money and you can make sure that its given out side your estate, which means that there will be no inheritance tax due on it.

Yes, infact you should be able to specify more than one person.

thank you all, thats very helpful!