Insurance Glossary

Industry jargon and unfamiliar terminology can be confusing.

No insurance resource would be complete without a helpful menu of terms and concepts. This information-rich list will help you make sense of the solutions you are considering.

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Trustee

The person who receives the legal title and manages the property and has a fiduciary responsibility to act in accordance with the law and provisions of the trust instrument. The grantor places confidence in the trustee to act solely on the beneficiary's behalf. When possible, the trustee of the insurance trust should be the original applicant and owner of the insurance.