If you mean transfer the death benefit to another individual the answer is no. Life insurance is written on the individual based on their age and health. If you mean transfer ownership of a policy on your life to another individual or trust, then the answer is yes.
Yes. You can transfer the ownership of your life insurance policy to someone else. One reason that people change ownership though is to try to keep it from counting as an asset when qualifying for Medicaid. In those cases, it only works if you transfer it 5-years or more before applying for Medicaid.
You can transfer the ownership to a funeral home for a 1st day exemption from Medicaid but you don't want to do that with a large policy because Medicaid will get any money that is not used for the funeral.
You can also transfer the beneficiary from one person to another.
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You can transfer the ownership to a funeral home for a 1st day exemption from Medicaid but you don't want to do that with a large policy because Medicaid will get any money that is not used for the funeral.
You can also transfer the beneficiary from one person to another.