Q&As

H took out a life assurance policy in 1966 with himself as the life assured and his wife W as the sole beneficiary. The policy is expressed to be subject to section 11 of the Married Women’s Property Act 1882. W has predeceased H, who is still alive. Can the trustees of the policy surrender it during H’s lifetime and pay its proceeds to H’s children?

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Published on LexisPSL on 03/11/2016

The following Private Client Q&A provides comprehensive and up to date legal information covering:

  • H took out a life assurance policy in 1966 with himself as the life assured and his wife W as the sole beneficiary. The policy is expressed to be subject to section 11 of the Married Women’s Property Act 1882. W has predeceased H, who is still alive. Can the trustees of the policy surrender it during H’s lifetime and pay its proceeds to H’s children?

H took out a life assurance policy in 1966 with himself as the life assured and his wife W as the sole beneficiary. The policy is expressed to be subject to section 11 of the Married Women’s Property Act 1882. W has predeceased H, who is still alive. Can the trustees of the policy surrender it during H’s lifetime and pay its proceeds to H’s children?

This Q&A assumes that:

  1. the policy endorsement refers to section 11 of the Married

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