Readers Question from Babylon, New York: “What are some examples of a life insurance policy owner’s rights?”

Babylon New York is one of the more culturally-mixed municipalities on Long Island. While most town neighborhoods are dominated by one ethnic group or another, as a unit, Babylon’s demographics are multi-cultural.

Readers Answer: The owner has the right to change ownership, cash it in, change beneficiaries, cancel it, convert it, decrease the face, take a policy loan,…etc etc. This assuming there are no irrevocables on it.