Client has a life insurance policy on adult child owned by father.
Upon fathers death policy ownership transfers to child's mother, and upon mother's death policy ownership transfers to the insured which is the child.
Now since this policy was bought originally by the father to accumulated cash value and also to provide a death benefit to adults child's future children.
Finally getting to the question.....if upon the second to die of the husband or wife that own the policy--and --there is an outstanding policy loan......
Does the policy transfer as is to the adult child, with the s
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Upon fathers death policy ownership transfers to child's mother, and upon mother's death policy ownership transfers to the insured which is the child.
Now since this policy was bought originally by the father to accumulated cash value and also to provide a death benefit to adults child's future children.
Finally getting to the question.....if upon the second to die of the husband or wife that own the policy--and --there is an outstanding policy loan......
Does the policy transfer as is to the adult child, with the s
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