Some of the rights policy ownership conveys include:
The right to make inquiries regarding policy values and other financial information
The right to name or change a beneficiary
The right to borrow against the cash value
The right to transfer ownership rights
The right to surrender the policy
It is important to understand what it means to be a policy owner. This is a decision that should not be taken lightly.
The owner of the life insurance policy will have exclusive rights to make changes or updates to the policy.
In addition, the owner is the only person allowed to receive personal or financial information regarding the policy.
Ownership form
There may be a time when your policy owner information is outdated and the wrong person is listed.
It is very important to keep ownership information current.