In all life insurance polices, there are three key elements – the policy owner, the insured, and the beneficiary. All three can be the same or all three can be different. In order to use your life insurance effectively, it is important to understand these elements.

• The policy owner is the person or group that purchases and owns the policy, is authorized to make changes to the coverage and/or the beneficiary, and typically makes the premium payments.
  
• The insured is the individual whose life and/or health is being covered by the policy.
  
• The beneficiary is the person or group that the owner has picked to receive the benefit payment when the policy matures.
  

home

DIGNITYRESOURCES PO Box 1437 Los Altos, CA 94023 (877) 563-2100 FAX: 425-871-8484 info@dignityresources.com