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Seeing a way to assist mitigate that risk and to provide another free service to assist defend the nation's drivers, NICB sought and obtained the cooperation of its member firms to make this function doable. Apart from holding the insurance proceeds out of the grantor-insured's estate, the ILIT permits the grantor-insured to set the parameters upon which his or her companion (because the beneficiary of the ILIT) will obtain belief earnings and principal. Many younger drivers who feel hopeless about getting their licence legally tend to simply drive anyway. Your private auto insurance coverage in such a case won't cover on- the- job accidents.
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