Ways life insurance and trust fund work together. In exchange for premium payouts, a life insurance company will pay out a lump sum death benefit usually the face amount of the policy - to the beneficiaries you identify when you buy the coverage. Stop waiting for death to use the money in your life insurance. These can be people you love care for a charity don't matter there are two general types term or temporary and permanent which won't expire as long as the required premiums are paid and three specific categories to choose from they got term, whole life permanent, universal life permanent and each one builds up differently so know which one you want to get into.