An insurance trust is a "trust as an insurance beneficiary". Under this structure, when the insurance is out of danger, the insurance company will directly deliver the claims to the trust established by the insured, and the trust institution will manage the property according to the trust contract. According to different types of insurance, insurance trust can be divided into death insurance trust and survival insurance trust. The trust plan officially starts after the beneficiary receives the insurance money, so the death insurance trust cannot distribute it before the death of the insured, but the survival insurance trust can set the distribution plan according to the trust plan.

The function and connotation of insurance trust is far more than the combination of "insurance" and "trust", and it can often exert the effect that one plus one is greater than two. Insurance trust with the functions of wealth inheritance, wealth appreciation, risk isolation, tax planning and privacy protection. It can be said that it is tailor-made for high-net-worth people who can't reach the threshold of family trust establishment in China for the time being.

Because the amount of claims received by the beneficiary does not belong to the insured's estate, many complicated inheritance procedures are avoided when inheriting.

At present, there are two common insurance trust models.

The first mode is that the insured sets up a trust to buy insurance for himself, and the beneficiary of the insurance contract is set as the established trust.

The second mode is that the client establishes a trust, and the trust company acts as both the policyholder and the beneficiary of the policy, and the client acts as the policyholder of the policy. Trust companies pay premiums and manage insurance policies on behalf of trustees. When the principal (that is, the insured of the policy) dies, the trust company manages the claims for the principal.

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