About Dry Trusts
What is a Dry Trust?
A "dry" trust has no fiduciary responsibility associated with the trust. As a dry trust trustee, we deal with "dry" group insurance trusts only. When referring to group insurance we also mean blanket insurance. The sole purpose of the "dry" trust is to be the trusted group policy/contract holder.
What are the Benefits of a Group Insurance Dry Trust?
Group/blanket insurance marketed using a dry trust allows uniformity for the products offered. There may be regulatory compliance requirements, yet they may be as simple as a one-page amendment that provides compliance as necessary. Uniformity allows cost effective marketing and advertising.
What is SentryCorp, LLC's Role as Trustee in a Dry Trust?
SentryCorp, LLC acts as the custodian of the trust and the policies/contracts issued to the trust. As a result, the cost of our trustee services for your group insurance trust will be far less than that of a bank or trust company. Plus, our expertise can help ensure that your trust is compliant with ERISA rules and regulations.