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Can you take out a life insurance policy on an ex-husband?

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Wiki User
2010-04-28 05:17:35
2010-04-28 05:17:35

Only if he is agreeable to allowing you to purchase the policy. He would be required to sign the application as the proposed insured and you would sign as the owner if you plan to keep the policy yourself. You cannot take out an insurance policy on someone without their knowledge and there must be an insurable interest.

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no. there are laws for life insurance policy and is illegal to take it out to any individual

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No. You have to have an insurable interest in the person's life in order to take out an insurance policy on their life.

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yes you can just go to a insurance place and take out insurance policy he will have to be there also,

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I have a whole life insurance policy, how long does it take to cancel it, also can I get money back from it.

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No, because Term Life insurance policy has NO cash value.

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This may be possible - but it would be most likely a quite expensive life insurance policy.

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In case of suicide, the insurance company will not provide any compensation for the family of the policy holder. Life insurance will only take care of the family of the policy holder when he does not take his own life.

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Why in the world would anyone want to pay that much money for an insurance policy if they did not know the person? Life insurance is expensive.

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You can only collect on the life insurance if you were awarded this at time of divorce. I was awarded the ability to take out a life insurance policy on my ex. as I receive a military retirement which only exists if he is alive. After his death, it would stop, therefore I have the life insurance policy.

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If the policy that you have with United Investors is a whole life policy and has accumulated cash value then you can take a policy loan against it. And then you would pay that money back plus interest which is basically like paying yourself back. Or you can cash in the life insurance policy and take the cash value with you

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Yes, you can take out a life insurance policy on a parent. There must exist insurable interest between the owner and insured of a life insurance policy. There does exist insurable interest between spouses, parents and children, and siblings. So, yes, you can buy life insurance on your parent. Your parent may need to sign the application, answer some health questions, or take a medical exam to qualify for life insurance.

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It is legal to take a life insurance policy out on someone else. Wal-mart does it to their older employees, and cashes in when the employees die.

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can the grand mom and her son take a life insurance policy out on me and his children without my {legal wife} permission

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No, you can not get life insurance without the insured's consent, unless it's for a minor.

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Life insurance is a necessity if you have loved ones you'd like to ensure the protection and well-being of your family when you die. There are choices to make once you decide to take a life insurance policy such as; will I take term or whole life insurance?

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Yes, but only if it's a cash value type of policy, not a term policy.

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You can obtain a loan on the policy. This depends on the terms and conditions of the insurer.

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my mother pased away on 4/28 and the funeral home filed her life insurance on the 29 or 30 how long does that take to receive a check for life insurance

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No, not all insurance companies require that you take a physical in order to get a policy. One such example is GEICO and Allstate.

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Change of ownership is not allowed in life insurance policy. Once the policy holder dies, accrued sum is payable to the nominee and the matter ends there. In that case, you are to take policy afresh.

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I signed up for life indurance in September and have not gotten my policy. How long does it take to receive a policy ?

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This is term life insurance with the option to convert the policy to whole life insurance without providing evidence of insurability. This exchange involves the issuance of a whole life policy at a premium rate. Convertibility may require that you take a physical exam. Your new rates for the permanent life insurance policy will usually be higher than for your term life policy. Also, you are usually required to convert by a certain date.

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No, since a term life insurance policy does not build cash value inside the policy, there is no cash to take a loan from with term insurance.

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Not a life insurance policy....The insured party would be considered the policy owner therefore it could not be issued without their knowledge & consent.


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