How is ownership on life insurance transferred?
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4 Responses
1.31.2010
There is a form called (guess what) Change of Ownership. The current owner names a new owner and both sign the form and send in to the insurance company where it is recorded.
1.31.2010
The owner of the policy has to be willing to change it and sign the proper change over papers or it can't be changed.The Doctor I work for his ex-wife had a life insurance on him and he could not cancel it even though it was on his life!!! But as part of the final divorce agreement she had to turn over the policy ownership to him as ordered by the court.
1.31.2010
It can be changed by calling your agent or by calling the insurance company directly.
1.31.2010
I think u can't change Source(s): http://www.egooglecash.com/all-insurance…