Can the owner of a life insurance policy also be the insured?

Can the owner of a life insurance policy also be the insured?

The owner of a life insurance policy can be the same person as the insured, but this is not necessarily the case. In fact, it is not tax-efficient for the policy to be set up this way because when the owner and the insured person are the same the death benefit becomes taxable. Sep 21, 2021