A solar array consists of one or many such panels. A photovoltaic array, or solar array, is a linked collection of solar panels. The power that one module can produce is seldom enough to meet requirements of a home or a business, so the modules are linked together to form an array.
The policy owner is the contract owner and is, in many cases, also the life insured. The policy owner has most of the rights in the contract such as the right to designate a named beneficiary and make changes to that designation at any time.
It is important to note that life insurance is an asset and an important estate-planning tool. The. sale or assignment of a life insurance policy to a âstrangerâ or third party, based on the policy ownerâs. major change of life circumstances, financial or otherwise, is NOT a STOLI transaction.