Placing Life Insurance in Trust

When placing an existing life insurance into trust, how would one understand the value of the gift for iht purposes? Is it simply the total premiums paid so far over the life of the policy?

Thank you.


Whole of life its the market value of the policy, usually the surrender value or the premiums paid - which ever is the higher.

Term, it’s usually Nil as the policy has no surrender value. However if the individual covered is terminally ill - in some cases the policy would have a market value. (Or can).


Thanks Richard.
Appreciate your reply