MLchartDataset catalogue

Ownership clause

Term · Insurance and risk management · MLC-T-INS-002472

A provision in an insurance policy that specifies who has the legal rights and control over the policy, including the right to change beneficiaries, surrender the policy, or borrow against its cash value. In life insurance, the owner is not necessarily the insured or the beneficiary. This clause determines who can exercise the contractual privileges and responsibilities associated with the policy.

Table 1. Record
IdentifierMLC-T-INS-002472
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-002472",
  "term": "Ownership clause",
  "field": "Insurance and risk management",
  "definition": "A provision in an insurance policy that specifies who has the legal rights and control over the policy, including the right to change beneficiaries, surrender the policy, or borrow against its cash value. In life insurance, the owner is not necessarily the insured or the beneficiary. This clause determines who can exercise the contractual privileges and responsibilities associated with the policy.",
  "url": "https://mlchart.com/terminology/insurance/ownership-clause/"
}

Record 2,471 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.