In a life assurance policy taken out by Keith on Aoife's life, who is the grantee of this policy?

In a life assurance policy, the grantee is typically the person who owns the policy and pays the premiums. In this case, since it is specifically stated that Keith has taken out the policy on Aoife's life, Keith is the one who has the contractual relationship with the life assurance company. This means he has the rights to the policy, including the ability to amend it or terminate it, and is responsible for the payment of premiums.

Aoife, being the life assured, is the person whose life is insured but does not have control over the policy itself. She does not have rights or obligations under the contract—the assurance company has no direct agreement with her in this case.

Understanding these roles is crucial for clarity in insurance agreements: the grantee is the policyholder while the life assured is the person whose life is covered by the policy. This distinction explains why Keith is the exclusive grantee in this situation.