Comments on: Child Protection: Setup Incentive Living Trust

By: KCLau

KCLau — Tue, 16 Mar 2010 08:05:01 +0000

Hi Pearly,

You will need a trust setup in this situation.
For your GE policy, you shall be able to do “absolute assignment”. Please visit the nearest GE branch to get this sorted.
For your other policies, you can nominate your son. If you have a trust, you can also assign the policies to the trust since your son is still young.

By: Pearly

Pearly — Mon, 15 Mar 2010 05:40:49 +0000

Dear KC,
Currently me and my husband is going tru divorce and during our marriage both of us have bought GE insurance with either:- ( me on the life of my husband as insured person ). Will divorce has any effect on insurance and the nomination? I also bought another saving policy – Maybank Etiqa whereby I put 100% beneficiary to my son which is just 5 years old. I’m confused now as after reading your article on whether to include my sister name for the nomination. Cause in case I die early how do my son get the money and he might not mature enough to handle his finance. Any advice on the beneficiary?

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