Yes you can. Your mother would have to sign as the applicant, and you as the owner. Also the insurance company may want to know the reason for the policy and its purpose.
Yes, your mother can buy a life insurance policy on you because she has an insurable interest in you. And, you can buy a life insurance policy because everyone has an insurable interest in their own life. However, your mother may need your permission and your signature on the application for life insurance that she purchases with you as the insured person.
No. For that kind of benefit you need mortgage insurance or a life insurance policy.No. For that kind of benefit you need mortgage insurance or a life insurance policy.No. For that kind of benefit you need mortgage insurance or a life insurance policy.No. For that kind of benefit you need mortgage insurance or a life insurance policy.
form_title=Life Insurance Policy form_header=Protect your loved ones with a lifetime of financial security. Find a life insurance policy customized to fit your needs. What type of life insurance policy do you want to buy?= () Term Life Insurance () Permanent Life Insurance () Both () Not Sure How large of a life insurance policy do you want to buy?=_ Who will it cover?=_ Who would you list as beneficiary?=_
Your step mother can only change the beneficiary on the life insurance policy if she is the owner of the policy or if she is the trustee of the trust. If she's the trustee then she would need to have the authority to make changes on the insurance policy set forth in the trust document. Otherwise, she cannot make changes in the policy. You haven't provided enough information for a more detailed answer such as who owns the policy and where your step mother "left" those instructions or how she is involved at all.
As it happens, I used to work in the insurance industry so I am familiar with this question. Life insurance policies typically have a clause that invalidates a claim if the insured commits suicide within a year of the date when the policy was purchased, but if you have had that insurance policy for a year or longer, then it remains valid even in the event of suicide. The concept behind this is that insurance companies don't want suicidal people (or their relatives) to buy life insurance policies to make the suicide more profitable. But if you bought your policy in good faith,, and the insured only subsequently became suicidal, then that is a death which deserves to be covered by the policy.
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