Policyowner

In Indexed Universal Life (IUL) insurance, the Policyowner is the individual or entity with ownership rights of the policy. Responsibilities and authorities of the Policyowner:

• Premium Payments: Accountable for making regular premium contributions.
• Policy Modifications: Holds the right to adjust aspects like the death benefit or premium amounts.
• Cash Value Access: Can borrow against the policy accumulated cash value.

Additional Rights:

• Separation from the Insured: The policyowner and the insured individual might be different.
• Beneficiary Designation: Possesses the power to appoint or alter the policy's beneficiaries.

The role of the policyowner is pivotal in managing and directing the IUL policy, encompassing financial obligations, rights to modifications, and beneficiary decisions.