Tag Archives: Irrevocable

What Is An Irrevocable Life Insurance Trust?

What's an Irrevocable Life Insurance Trust Local Life Agents from www.locallifeagents.com An irrevocable life insurance trust (ILIT) is a trust that is used to hold a life insurance policy. The trust is established by a settlor, who is also the insured, to provide financial protection for designated beneficiaries in the event of the insured’s death. The trust is irrevocable, meaning …

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