Who Should Be The Owner Of A Life Insurance Policy? 
The owner of the life insurance policy makes decisions about the policy , such as who should be the beneficiary , how payments are made , and whether or not the policy is to be continued . So if you want ultimate control over your own policy , you should own the policy yourself . If you have a very large estate and your life insurance proceeds would put it over the exemption for federal estate taxes , you can not have any incidences of ownership in your policy for at least three years before death . 