Who Is Policy Owner Of A Life Insurance Policy? 
The policy owner is the contract owner and is , in many cases , also the life insured . The policy owner has most of the rights in the contract such as the right to designate a named beneficiary and make changes to that designation at any time . In the case of a cash value life policy , the policy owner owns cash values which is an asset that could be borrowed if needed or , the policy cash surrender value could be accessed if coverage was no longer needed . 