C
ctkdanny
Guest
What is the name of your state? Iowa
I would be grateful if you could also provide some general guide on the the
rules of insurance interest in the state of Iowa. The policy owner could be a private investment company (Cayman) wholly-owned by a trust established by the insured for the benefit of his family members.
The trust would be named the beneficiary of the policy. As I
understand, if there is no insurable interest, the insurance policy is void and the insurance company cannot waive the requirements of insurable interest.
Thus, can the company still own a Universal Life policy under a Trust and not fail the insurable interest rule?
Regards,
Danny
I would be grateful if you could also provide some general guide on the the
rules of insurance interest in the state of Iowa. The policy owner could be a private investment company (Cayman) wholly-owned by a trust established by the insured for the benefit of his family members.
The trust would be named the beneficiary of the policy. As I
understand, if there is no insurable interest, the insurance policy is void and the insurance company cannot waive the requirements of insurable interest.
Thus, can the company still own a Universal Life policy under a Trust and not fail the insurable interest rule?
Regards,
Danny