Is my life insurance policy transferable to someone else?
No, your life insurance policy is not transferable to someone else. Life insurance policies are specific to the insured individual and cannot be transferred to another person. The coverage and benefits provided by the policy are meant to financially protect the named insured's beneficiaries in the event of their death. Therefore, it cannot be reassigned or transferred to someone else during the insured's lifetime. It is important to review the terms and conditions of your policy and consult with your insurance provider to fully understand its limitations and options for adjusting coverage if needed.
Answered Nov 1, 2023
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