Who Should Own A Life Insurance Policy? 
If life insurance is for estate purposes , it should be owned by a trust . If the life insurance is in a pension plan , it is own by the company trustee . If life insurance is part of Captive Insurance planning , then it could be owned by an outside entity or it could be owned by the Captive . If the life insurance is for business purposes , then either the business or a combination of the business and the insured are usually the owners/joint owners of the policy . Sometimes a trust will own those policies as well . For life insurance between husband and wife , ownership always depends on individual circumstance . 