Can Two People Own A Life Insurance Policy?
12689 POINTSview profileTed RatliffOwner, SFS Associates,Yes a life insurance policy can be owned by two or more people providing there is insurable interest. An example of this would be two siblings who wan to take a policy out on their parent. They plan on sharing the premium and any cash value or death proceeds paid out by the policy. They may choose to be co-owners.Answered on June 6, 2013flag this answer
4249 POINTSview profileGary LanePresident, Lane Independent Agency, Southern CaliforniaCertainly can. Husband and Wife are the typical two, with the survivor continuing the single policy. However, anyone with an insurable connection (interest) can also be part of a two party policy. Brother/Sister. Father/Son. Business Partners. But where there is an estate issue, or tax issue, husband/wife together in a survivor policy, can solve many issues. Talk with your agent. GARY LANE, garylane@cox.net. 714 422 9616.Answered on March 2, 2015flag this answer
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