Jargon Buster - Definition of Trustee

Please select your letter of choice below to see the list of terms:


is the party or parties who are given legal responsibility to settle/distribute the contents of a trust. In terms of a life insurance trust, the trustee(s) will ensure that the money paid out is distributed as per the deceased's wishes, i.e. to their nominated beneficiaries.

You can nominate more than one trustee if required to handle the trust. For a trust to be completed, a trust deed must be completed and signed by the settler (policyholder) and the trustees, all signatures by these two parties must be witnessed.

Please note that all definitions are intended for general guidance only. For official and current definitions you should always double check your policy wording.

If you are in doubt of the meaning of any terms, why not email us on