Life insurance trust is a kind of trust businesses. Owing to the enactment of Trust Law and Trust Company Law, life insurance trust can be operated by the trust company. To the insured, the payment of the claim can be managed properly and the beneficiary can be protected because of life insurance trust. Therefore, life insurance trust business has been carried on in America and Japan for many years. Especially, life insurance trust business can be managed by life insurance company in Japan. The article will analyze the benefit of the parties for life insurance contract、the capital management of the life insurance company and the future development of the life insurance company to support the conclusion that life insurance company can operate life insurance trust business.