A Royal London life insurance beneficiary is named in one of two ways: a trust form, which hands the plan to trustees, or, under the beneficiary nomination Royal London introduced in 2020 for some Personal Menu Plans, a nomination made without a trust. Royal London's page for existing customers lists the trust forms and the deeds that change them later, and which one fits depends on what you want to be able to alter.
Royal London's forms are easier to choose between with an FCA-authorised broker reading them against your own plan, and the form on this page asks that broker to ring you at no cost.
Do you need a trust form to name a Royal London beneficiary?
Possibly not. When Royal London announced beneficiary nomination in November 2020, it described it as "a simpler alternative to using a trust" for Life Cover and Life or Critical Illness Cover on its Personal Menu Plans. It said the customer could change a nomination at any time, with no probate and no trust form needed, and added: "For more complicated payout requirements, customers should still consider completing a trust form."
That was a 2020 announcement about one product range, so whether your plan offers a nomination is something to confirm with Royal London. How nomination differs from a trust is covered on what a life insurance nomination form is, while a policy outside any trust is dealt with on changing a life insurance beneficiary. The rest of this page is about the trust route.
Which trust forms and deeds does Royal London list?
The customer page Access and download trust forms (read 27 October 2026, undated) is for people with a Royal London protection plan, and says the forms "may be suitable" to put the plan in trust. It also says Scottish Provident plan holders can use them for existing Scottish Provident plans. It groups them as trust forms and deed forms:
| Form | What it is for |
|---|---|
| Discretionary Trust | Trustees choose who among a listed group receives the gifted benefits, in what shares |
| Bare Trust | You name the beneficiaries, and their shares or benefits, when you sign |
| Letter of Wishes | Listed beside the trust forms; the discretionary form says you can complete one to guide trustees |
| Deed of Appointment of a Beneficiary | Trustees change or add to beneficiaries' interests under a discretionary or flexible trust |
| Deed of Appointment - Absolute, and Absolute Split Trust | Listed as deed forms; ask Royal London or a broker which applies to your trust |
| Deed to Change Trustees | Listed as a deed form for changing the trustees |
| Deed of Assignment | Moves ownership of a policy, including from trustees to a beneficiary who is entitled to it |
The page also says: "We strongly recommend that you take separate legal and taxation advice prior to signing the trust form and while the trust is in existence."
Which plans can use the Royal London trust forms?
The Discretionary Trust and Bare Trust forms (both printed June 2026) each carry the same eligibility note. They can only be used with "Protection plans issued by Royal London after November 2015" and older plans issued by the Bright Grey and Scottish Provident divisions, plus certain Scottish Provident Self Assurance and Pegasus plans. The Pegasus plans qualify only if they have no critical illness buyback option.
Both can be used on a plan already in force or at application, so the trust applies from the start date. Neither can be used for pension plans. If you are unsure whether an older plan or a particular cover type fits that wording, the broker who rings you can look at it with you.
What is the difference between naming people on the discretionary and bare forms?
On the Bare Trust you must specify named beneficiaries, with either percentage shares totalling 100% or a named benefit for each. The form warns that these "cannot be altered after the trust is created, even if this is no longer desirable due to a change of circumstances", and that if a named beneficiary dies their share goes to their estate, not to the other named beneficiaries.
The Discretionary Trust works the other way round. Rather than fixing shares, it lists classes of people. These include the donor's children and remoter issue, partners, and anyone descended from the donor's parents. Its definition of partner includes a "Cohabiting Partner": someone living with the donor as if married or in a civil partnership at the time of the donor's death, and for at least six months. The donor cannot be a discretionary beneficiary. The form says the donor can add names to the list by writing to the trustees, and can complete a letter of wishes to guide them. Other types of trust are set side by side on life insurance trust options.
Both forms split a plan's benefits into three groups. Death and terminal illness benefits are "gifted" to the trustees. Critical illness and total permanent disability benefits are "retained" by you unless you choose on the form to gift them. All other benefits are "personal" and always paid to you. That choice has to be made when you complete the form, not later. Where two people are donors, both forms by default hold the gifted benefits for the survivor if they outlive the other's death or terminal illness by 30 days, unless both donors tick the option to have them go to the trustees instead. Anyone wondering who receives a critical illness payout can read who receives the critical illness payout.
How do you change beneficiaries once the trust is signed?
It depends on the form. The Bare Trust cannot be altered, as above. For a discretionary or flexible trust, the Deed of Appointment of a Beneficiary is the form for changing the shares of named beneficiaries or giving a share to a discretionary beneficiary. Trustees complete it, which will usually include the donor.
The deed lets the trustees appoint "revocably", meaning they can change it again, or "irrevocably", meaning the change is permanent. An irrevocable appointment means the share is held on a bare trust for that beneficiary, and if they die it forms part of their estate. The form says that for a trust created before 22 March 2006, changing named beneficiaries' shares "is likely to have adverse inheritance tax consequences", and it strongly recommends professional trust and tax advice first.
Choosing the deed that matches your trust, and between a revocable and an irrevocable change, is best settled before anyone signs. Should you prefer to talk it through beforehand, the enquiry form here arranges a broker's call at no charge.
Every party named on the deed signs with a witness present, who must be independent, over 18 (16 in Scotland) and unrelated to the signer.
What happens after the form is signed?
Royal London asks for a copy of a signed trust form or deed to be returned "for noting", and says the original stays with the plan documents and other trust papers. The discretionary form accepts a scan or clear photograph by email to protectionhelp@royallondon.com, or a copy by post; Scottish Provident plans have their own address on the form. The trust form needs at least one additional trustee besides the donor, and up to four, and the donor is responsible for giving each of them a copy.
The discretionary form also says the trustees may need to register the trust with HMRC's Trust Registration Service, and that it is their responsibility to work out when. For how that works, the general steps are on putting a life insurance policy in trust. The forms' tax notes are general guidance and rules can change, so Royal London's own advice is to take legal and tax advice.
Since the original form stays with the plan papers, tracking those down is covered on finding Royal London policy documents, and telling Royal London about a death on making a Royal London bereavement claim. Legal & General's paperwork has its own page, and ending a plan is on cancelling a Royal London policy.
Frequently asked questions
Will Royal London charge me to set up the trust?
A Royal London guide published in October 2025 says insurers will "generally not charge for putting a life policy into trust", though more complex trusts can involve legal fees, particularly with a solicitor.
Can I take a policy back out of a Royal London trust?
The same guide answers "No, once a policy is written in trust, it cannot be reversed" and says you give up control to the trustees. The discretionary form says the trust is irrevocable. That is about taking the policy back, and it sits alongside two forms that can look like exceptions but are not: the Deed of Assignment lets trustees pass a policy to a beneficiary under an absolute trust or one given a share irrevocably, and the 'revocably' option on the Deed of Appointment of a Beneficiary lets trustees change a share again within the trust, without ending it.
Does a trust change my premiums?
Royal London's guide says no, writing a policy in trust does not affect the cost of premiums. The forms describe the donor paying the premiums, and that normally falls within the annual exemption or the normal expenditure out of income exemption for inheritance tax, in the form's words.
Can a Royal London plan I already hold go into trust?
Yes for the discretionary and bare forms, within the eligibility above. The discretionary form calls the transfer of an existing term policy a transfer of value for inheritance tax, normally negligible where the person covered is healthy at the date of the trust. Royal London's guide says transferring an existing policy usually means speaking to your adviser.
Who can be a trustee?
Royal London's guide names a spouse, a family member, a friend or a solicitor as examples. The forms require additional trustees to be 18 or over and to have agreed to act before being listed. Choosing them is covered on life insurance trustees.
Once you have decided between the forms, a short enquiry on this page lets a broker ring you and walk through Royal London's paperwork for your plan.
Sources
- Royal London, Access and download trust forms (customer web page, undated), read 27 October 2026. royallondon.com
- Royal London, The Discretionary Trust (form A P9 PD 0002/4, edition printed June 2026), read 18 October 2026. royallondon.com
- Royal London, The Bare Trust (form P8B0068/9, edition printed June 2026), read 22 October 2026. royallondon.com
- Royal London, Deed of Appointment of a Beneficiary (form P8B0039/6, edition printed April 2026), read 21 October 2026. royallondon.com
- Royal London, Deed of Assignment (form P8B0040/7, edition printed July 2025), read 18 October 2026. royallondon.com
- Royal London, Royal London introduces beneficiary nomination (press release, published 12 November 2020), read 27 October 2026. royallondon.com
- Royal London, Should I write my life insurance in trust? (guide, published 13 October 2025), read 27 October 2026. royallondon.com