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2008-08-22 12:29:27
2008-08-22 12:29:27

The owner can do anything he wants. Careful though, taking a loan or withdrawal from a cash value policy my jeopordize the well being of the policy.


Related Questions

The new owner of a life insurance policy if the original owner dies before the insured.

if the owner of a life insurance policy dies and the policy is on her son. What happens to the ppolicy and is it part of the estate.

No, the owner of a life insurance policy does not have to be the payer. Pretty much anyone can be the payer.

No, only the OWNER of the insurance policy can sign the policy over. Sometimes the owner is the insured, but not always.

The person that buys the insurance policy is referred to as the policy owner. This person is the only one that can make changes to the policy or cancel it. However, there may be more than one policy owner for the same insurance policy.

The cash value is the amount of money your insurance policy is worth to the owner of the policy if the insurance is cancelled and the policy terminated. The insurance company will mail a check to the to the policy owner upon policy termination or cancellation by request of the owner. I would strongly encourage you to consult a professional in your area before cancelling an existing policy. There may be other options and alternatives to access the value of the policy without cancelling the insurance policy.

This will depend on some factors. Who is the policy-owner? The policy-owner is the only person who can cancel the insurance policy,

Usually the insurance policy of the owner of the car is primary and then if the driver of the car has a policy of their own then it is secondary.

what does PNO stand for on an insurance policy

They can only give that kind of information to the owner of the policy

The owners name is listed on the life insurance application unless it was changed at some point. Any change was also mailed to the policy owner and should be added to the policy. Only the owner can make changes to the policy.

Answer:As long as you have the owners name on the insurance as owner you can insure it under your own policy

It depends on who is the owner of the policy. The policy owner has complete control of the policy once issued. If you are the owner you can cancel it or just change the beneficiary if you want. If she is the owner forget it. You have no say so on the policy.

The owner of the policy is the only person who has a right to get information on a child's life insurance policy. The owner is also the only one who can make changes or withdraw money from the policy.

The new owner must purchase their own auto insurance policy. The previous owners auto insurance can not be transferred to a new owner.

The insurance policy on the vehicle you were driving will pay any damages assuming the owner of the vehicle and the owner of the insurance policy is one and the same.

If you are the owner of the life insurance policy you can call Southland Life. They are located in Atlanta, Georgia and their phone number is 770-850-7750. If you are not the policy owner then it's not your business and they will not tell you anything about a policy that someone else owns.

The owner of a life insurance policy is most frequently, but not always, the insured. If the insured is not the owner, and is still alive, he/she can contact the consurance company or the agent and designate another person as the owner.

The owner will usually have a policy but if you are a renter, you should have a renters insurance policy to cover your personal belongings.

Yes, The Heirs can buy the policy or the Estate executor can buy a home insurance policy.

Yes, the policy owner can change the beneficiary. Sometimes, the person insured and the policy owner are not the same person, if someone else pays the premium for the insurance policy. For example, a parent or guardian taking an insurance policy on spouse or children. Some insurance policies are assigned to cover bank loans, and even if the insured may pay the premium, the bank can be assigned as the owner of the policy; in that case the bank decides who the beneficiary is going to be (usually in this scenario, the bank will also be the beneficiary).

I guess what your question is how to transfer the ownership of insurance policy to the insured if they are different person. The owner of policy can simply sign the form called "policy ownership absolute transfer form" which you can find it through your insurance advisor. If the owner passed away, and you had assigned contingent owner when you applied the insurance, that ownership will be automatically transferred to the contingent owner. Hope it answers your question.

The insured or the insured's legal guardians (such as parents) is the policy "owner".

No. You will have to cancel you policy and the new owner will have to apply for a new policy. The homeowner's policy is partly based on the home and partly on the person so the new owner will be underwritten as well as the property.

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