Details
The Change of Insured Rider allows the policy owner to change the insured on the policy while it's in force. This is usually used by businesses that insure a key person and may want to switch the insured when an employee is replaced.
It's important to note that changing the insured may cause a taxable event for the policy owner. Neither the company nor its representatives give legal or tax advice. Please consult your attorney or tax advisor for answers to specific questions.