{"data":{"id":"us-dc/d.c.-code-19-1301.12","jurisdiction":"us-dc","citation":"D.C. Code § 19-1301.12","heading":"Insurable interest of trustee.","body":"(a)\nFor the purposes of this section, the term \"settlor\" means a person that executes a trust instrument. The term \"settlor\" includes a person for which a fiduciary or agent is acting.\n\n(b)\nA trustee of a trust has an insurable interest in the life of an individual insured under a life insurance policy that is owned by the trustee of the trust acting in a fiduciary capacity or that designates the trust itself as the owner if, on the date the policy is issued:\n(1)\nThe insured is:\n(A)\nA settlor of the trust; or\n(B)\nAn individual in whom a settlor of the trust has, or would have had if living at the time the policy was issued, an insurable interest; and\n(2)\nThe life insurance proceeds are primarily for the benefit of one or more trust beneficiaries that have:\n(A)\nAn insurable interest in the life of the insured; or\n(B)\nA substantial interest engendered by love and affection in the continuation of the life of the insured and, if not already included under subparagraph (A) of this paragraph, who are:\n(i)\nRelated within the third degree or closer, as measured by the civil law system of determining degrees of relation, either by blood or law, to the insured; or\n(ii)\nStepchildren of the insured.","path":["Title 19. Descent, Distribution, and Trusts. [Enacted title]","Chapter 13. Uniform Trust Code.","Subchapter I. General Provisions and Definitions."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/19-1301.12","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"c3fadaee53b356dd6ed6de07d33fe5fcd6f147389e1e510cff65d6a9a7a03a81","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-19-1301.11","next":"us-dc/d.c.-code-19-1302.01"},"notice":"GroundRules: Original legal text. Not legal advice."}