<prompt> Human: I heard someone recommend that life insurance policies on a working husband for the benefit of the wife should be owned by the wife under her name, and even paid for by a bank account owned by just her non-joint, to keep the life insurance out of probate in the event of the husbands death, which could potentially delay or hinder her from getting the payment. Is this paranoid or a reasonable concern? I am a regular guy without any special situation going on.  <response>: So long as the wife is the named beneficiary of the policy, life insurance policies are considered non-probate assets and therefore the life insurance company would pay the wife upon husbands death. 