<prompt> Human: My grandmother has apparently been paying for a life insurance policy with me named as the main beneficiary. Since I turned 21 the policy has become mine. She has said she will keep paying it but now I have a life insurance policy. What does this mean for me? Is this money I can pocket and trash the insurance or is this strictly for whoever I choose as beneficiary?  <response>: The moneys yours when you die. Congrats! 