Can You Transfer A Whole Life Insurance Policy? 
Yes , the policy owner has the right to transfer the policy to another owner . Care would have to be taken to ensure it is done without adverse tax consequences . We have often seen policy owners simply make the change directly with the insurance company only to find out later that the result was taxable . Depending on the facts and circumstances , the transfer itself can be taxable to the extend of gain and in many cases , a transfer might result in the death benefit being taxable when received . There are several ways that a transfer might be arranged such as by gift or sale . There are IRS regulations which set the value of the policy for tax purposes . Life insurance , tax and legal professionals can help you assess your situation to avoid traps so plan ahead before making changes . 