In many cases, the policy owner is also the person who is insured by the life insurance policy.
However, the policy owner may also be a relative of the insured person, a trust, partnership or a corporation.
For example, you may own a life insurance policy that insures your life.
Or, you may own a life insurance policy that insures the life of your elderly parent.
Or, you may own a life insurance policy that insures your spouse or child.
Learn more about who you can insure for life insurance