Can I transfer my life insurance policy to another person?

Asked 6 months ago
No, you cannot transfer your life insurance policy to another person. Life insurance policies are non-transferable and cannot be assigned to another individual. The benefits and coverage provided by the policy are specific to the insured person and cannot be transferred to anyone else. However, you can name a beneficiary who will receive the death benefit in the event of your passing. It is important to review and update your beneficiary designation regularly to ensure that it reflects your current wishes. If you have any further questions or concerns, please reach out to our customer service team who will be happy to assist you.
Jeff Whelpley is the editor / author responsible for this content.
Answered May 3, 2024

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