Who Should Own Your Life Insurance Policy?

Are you considering the purchase of a life insurance policy?

If so, one of the choices you will make when buying your policy is who will be the owner?

This may sound like a simple decision, you just name yourself as the owner of your life insurance policy.

But, what if you are a grandparent buying life insurance on your grandchildren? Maybe you'll want to make the parents of the children the owners, in case you are not alive to continue making payments before the grandkids are grown.

In addition, many seniors may want to make their adult children the owners of their life insurance plans, since the kids are probably the beneficiaries, and they can manage the payments of the life insurance policy premiums, in case the senior (you) purchaser of the life insurance becomes disabled, or unable to manage their financial matters.

Learn more about who should own your life insurance policy