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A term life insurance policy's owner is not the same as the insured would keep the policy proceed out of the insured'estate at time of death. But can the policy owner be the insured's spouse?
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Yes



If yes, can the spousal owner pay the life ins. policy premium by funding a joint checking account with the insured? Sorry if my question is out of place. Please direct me to the appropriate board.
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I do not see any reason you cannot.


I do not see that you are accomplishing much in the way of estate tax savings in that the law allows for unlimited transfers from spouse to spouse . IOW even if you owned the policiy yourself and at your death had an estate valued at say 15 million then if your wife was the sole beneficiary there would be no death taxes.

It's the second death that you need to pay attention to!

Pete
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