Life Insurance FAQs - Ownership
What is a policy owner?
The policy owner is the person that has all the contractual rights to the
policy. They authorize any changes to the policy and receive values
associated with the policy, such as dividends.
How can I change the ownership of my life insurance policy?
Complete the Transfer of Ownership section of a
Policy Change Request Form and mail the completed and signed form to us
at the address at the top of the form. The new owner is also required to
sign the form.
If the current owner is deceased, a copy of the death certificate must accompany
the request form.
If the insured is over the age of 15 and is not going to be the new owner, they
are required to authorize the change. The new owner must have an insurable
interest in the life of the insured.
We will send confirmation of the ownership change to both the old and new
owner at their address of record.