Life Insurance Basics
What is a life insurance policy owner?
The policy owner is the person or entity that owns a life insurance policy. The policy owner has the right to change beneficiaries, take loans, surrender the policy, and make other policy decisions. The policy owner may or may not be the named insured or the beneficiary.
Key Points
- Policy owner: person or entity that owns the life insurance policy
- Policy owner rights: change beneficiaries, take loans, surrender the policy
- Policy owner may or may not be the named insured or beneficiary
- Business can own a policy on an employee's life
- An independent agent can help you understand policy ownership options