What Is Revocable Life Insurance?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    All life insurance is revocable. The word revocable simply means that you have the option to cancel your policy, if you desire. If the policy is owned by an irrevocable life insurance trust, then the trustee would have to make the decision to cancel the policy or change beneficiaries.
    Answered on March 19, 2014
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