1. Founder, Georgia Medicare Plans, Atlanta,GA
    When the owner of a life insurance policy dies, nothing may happen unless the owner is also the insured.

    If the owner is the insured the policy is terminated and the proceeds are paid to the beneficiary.

    If the owner is not the insured, the policyholder becomes the new owner and should transferring ownership to a successor.
    Answered on June 4, 2013

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