Is A Life Insurance Trust A Living Trust? 
When talking about a life insurance trust , most people are referring to an irrevocable trust set up for tax purposes . While a living trust is simply a trust made while the grantor is living , when most people refer to living trusts they are referring to revocable trusts . A life insurance trust is usually a living irrevocable trust : set up during the grantor 's lifetime but unable to be changed or revoked . 