Who Should Own A Life Insurance Policy? 
The owner of the policy is in control of the policy . The policy is the property of the owner . The owner need not be the insured . The owner can name the beneficiary . The owner need not be a natural person but can be a trust . There are situations where certain portions of the death proceeds can be included in the estate of the deceased for estate tax purposes . To avoid this ownership is often placed with another party or trust . It is also possible that the owner might be required to act when the insured is not capable . 