Can a beneficiary request a policy loan without the policy owner's permission?
In most cases, no. The policy owner is entitled to make all decisions regarding the changes in their policy. Generally, the beneficiary cannot ask for a policy loan without the policy owner's permission. There are only two cases where the beneficiary can do this: - The beneficiary is also the policy owner. For example, a wife purchases life insurance with her husband being the insured and she being the beneficiary. In this case, the wife is both the policy owner and the beneficiary. - The policy owner entrusts someone to make financial decisions on their behalf. In this case, the trustee can change the life insurance policy.