After 20 years, who has the right to the cash values of a Whole Life Insurance policy?

In the context of a Whole Life Insurance policy, the policyowner is the individual who holds the rights associated with the policy, including the right to access and control the cash values that may accumulate over time. The cash value of a Whole Life Insurance policy grows at a guaranteed rate and can be accessed by the policyowner through loans or withdrawals, thus providing a source of savings over the life of the policy.

While the original purchaser of the policy could be the policyowner, this is not always the case; the ownership of the policy can be transferred. Therefore, the correct answer focuses on the status of ownership rather than the original purchaser. The beneficiary named in the policy is entitled to the insurance death benefit upon the policyowner's death, but does not have rights to the cash value during the policyowner's lifetime. The insurance company does not possess rights to cash values once they are accumulated; its role is to maintain the policy and fulfill claims according to the policy terms.

Thus, the policyowner, regardless of whether they were the original purchaser or someone else to whom the ownership has been transferred, retains the rights to the cash values after 20 years.