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Life Insurance Trust Deed

Life Insurance Trust Deed Template for Indonesia

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Key Requirements PROMPT example:

Life Insurance Trust Deed

"I need a Life Insurance Trust Deed under Indonesian law to set up a trust for my two minor children as beneficiaries, with my sister as trustee, to manage a USD 500,000 life insurance policy that will be effective from March 2025."

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Document background
The Life Insurance Trust Deed is essential for individuals seeking to establish structured management and distribution of life insurance proceeds in Indonesia. This document is typically used when policy owners want to ensure their life insurance benefits are professionally managed and distributed according to their specific wishes, while potentially achieving tax efficiency and asset protection. The deed must comply with Indonesian Insurance Law No. 40 of 2014 and related regulations, making it suitable for both domestic and international insurance arrangements within Indonesian jurisdiction. It includes comprehensive provisions for trust administration, beneficiary rights, and trustee powers, while accommodating specific requirements such as provisions for minor beneficiaries or special needs beneficiaries. The document is particularly relevant for high-net-worth individuals and those with complex family or business succession planning needs.
Suggested Sections

1. Parties: Identifies all parties to the deed: Settlor (insurance policy owner), Trustee(s), and named Beneficiaries

2. Background: Recitals explaining the context of the trust creation and reference to the associated life insurance policy

3. Definitions: Defines key terms used throughout the deed, including technical and legal terminology

4. Declaration of Trust: Formal establishment of the trust and assignment of the life insurance policy to the trust

5. Trust Powers: Detailed powers granted to the trustees in managing the trust and insurance policy

6. Distribution of Trust Assets: Rules and procedures for distributing insurance proceeds to beneficiaries

7. Trustee Provisions: Appointment, removal, resignation procedures, and duties of trustees

8. Trust Administration: General administrative provisions for operating the trust

9. Beneficiary Rights: Rights, interests, and entitlements of the beneficiaries

10. Amendment and Revocation: Conditions and procedures for modifying or terminating the trust

11. Governing Law and Jurisdiction: Specifies Indonesian law as governing law and relevant jurisdiction

12. Execution: Formal execution provisions and signature blocks

Optional Sections

1. Successor Trustee Provisions: Used when specific arrangements for successor trustees are required

2. Spendthrift Provisions: Include when protection of beneficiaries from creditors is desired

3. Minor Beneficiary Provisions: Required when any beneficiaries are or may be minors

4. Special Needs Provisions: Include when any beneficiaries have special needs or disabilities

5. Investment Powers: Used when trustees need specific investment authority beyond insurance proceeds

6. Foreign Asset Provisions: Include when trust may involve assets or beneficiaries outside Indonesia

7. Tax Planning Provisions: Used when specific tax planning arrangements are needed

8. Dispute Resolution: Optional detailed dispute resolution procedures beyond standard jurisdiction clause

Suggested Schedules

1. Schedule A - Insurance Policy Details: Details of the life insurance policy(ies) held in trust

2. Schedule B - Initial Trust Assets: List of any additional assets placed in trust besides insurance policy

3. Schedule C - Beneficiary Information: Detailed information about beneficiaries and their entitled shares

4. Schedule D - Trustee Powers: Comprehensive list of specific powers granted to trustees

5. Appendix 1 - Consent Forms: Required consent forms from relevant parties

6. Appendix 2 - Certificate of Trust: Summary document proving existence and basic terms of trust

7. Appendix 3 - Tax Residency Declarations: Tax residency information for relevant parties

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions








































Clauses































Relevant Industries

Financial Services

Insurance

Legal Services

Wealth Management

Estate Planning

Private Banking

Financial Planning

Professional Services

Relevant Teams

Legal

Compliance

Wealth Management

Estate Planning

Insurance Operations

Risk Management

Financial Advisory

Trust Administration

Product Development

Client Services

Relevant Roles

Insurance Agent

Financial Advisor

Estate Planning Attorney

Trust Officer

Wealth Manager

Legal Counsel

Insurance Underwriter

Financial Planner

Private Banker

Risk Manager

Compliance Officer

Trust Administrator

Estate Planning Specialist

Insurance Product Manager

Industries







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