Who should be the owner of a life insurance policy?

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asked Jan 26, 2019 in Insurance by shaunacook (220 points)
Who should be the owner of a life insurance policy?

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answered Jan 26, 2019 by futewako (370 points)
You can and should own your own life insurance policy on yourself and have someone else you know such as a spouse or family member be a beneficiary as well so they can take care of your funeral costs and final expenses once you die.

The person will need to submit your death certificate to the Life Insurance company and then they will pay out the cost of the funeral and then will take care of your other final expenses and pay out the rest to your family member or spouse.

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