Comments on: Who Should Own Your Life Insurance Policy?

By: Paul Williams

Paul Williams — Mon, 01 Feb 2010 16:18:08 +0000

Thanks for your question, Ursula. A life insurance policy is an asset just like anything else you can own. So unless you have set up a “contingent owner” on your policy (a person designated to become the new owner if the original owner dies), then ownership of a life insurance policy will pass according to your will. (at least in the situation you’ve given where it’s a policy owned on someone else’s life – not the person who died)

By: Ursula Alderman

Ursula Alderman — Sat, 30 Jan 2010 00:45:25 +0000

If a spouse is the owner and beneficiary, but that person dies before the one whose life is insured, what happens to the policy? Can the living spouse get it back if the one who dies has a will leaving it to the other?

By: The Financial Blogger » Blog Archive » Carnival of Money Hackers #89 – My Favourite Coffee Edition

Wed, 04 Nov 2009 12:44:28 +0000

[...] Williams presents Who Should Own Your Life Insurance Policy? posted at Provident [...]