0
There must be insurable interest between you and the person you want to insure. Insurable interest mean that you must be financially and emotionally affected if the person dies.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
How do you find an unauthorized life insurance policy in your name?
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.
Can anyone take out life insurance on someone?
If there is lawsuit, or sue.
Can someone take out a life insurance policy on someone that they do not know?
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.
How can you find out if someone has taken out a life insurance policy on your recently deceased father?
In order to take out a life insurance policy on your father, they would have needed an insurable interest. This limits it to family members and creditors. Ask! No, only your father can take out a life insurance policy on himself. He could have taken one out on himself with his friend or pastor being the beneficiary (person who collects after final debts are paid), although no one else is able to take out a policy one someone else. And no one else besides the owner of the policy may make changes to an existing policy. Hope this helps.
Can someone else take out a life insurance on you?
Yes, so long as they have your authorization on it if you are of the age of majority and they would need to have an insurable interest. Also, your family members may take a policy out on you when you are a minor without your authorization.
Can someone take out a life insurance policy on you without your consent?
Yes, someone can take out a life insurance policy on you without your prior consent. An example would be a business which has a defined financial exposure resulting from the unexpected death of an essential employee.
How do you tell if someone has put life insurance on you?
Unless someone faked your signatures and did not need a medical exam it is highly unlikely that you would not know if someone can take out a Life Insurance policy on you. There must be an insurable interest when a life insurance is taken out and the insured must know unless that person is a minor and the parents took it out.
If you receive a driver summons while driving someone else's car will your insurance increase or the car owner's?
If this is a traffic ticket, your insurance would take the hit.
Should you get life insurance if you have no dependents?
You should have life insurance if someone will have any kind of financial burden when you passed away. A college student with no wife or kids probably doesn't need any insurance, and many companies won't even give them a policy. Only to take care of small final expenses and if you have assets that ar burdened by debts that you would want to pass on to someone else.
If someone hits your parked car and you call your insurance will your rates go up or will their insurance take care of everything?
If your car is parked and someone hits it, your rates should not go up. The other car's insurance company should take care of everything, even if you have the same insurance company. You are entitled to have your vehicle repaired following an accident that was caused by someone else.
Can I take out a Life insurance policy on someone I am not related to?
Yes, you may be able to take out a life insurance policy on someone you are not related to - the determination is made by the insurance company as to who you may insure. There must be an "Insurable Interest" in order to insure someone else's life. Insurance Interest means the expectation of a monetary loss that can be covered by insurance. The following are examples of Insurable Interest regarding life insurance: 1. Parent and child, husband and wife, brother and sister have an insurable interest in each other because of blood or marriage. 2. Creditor-Debtor relationships give rise to an insurable interest. The creditor or loan provider can be a beneficiary for the amount of an outstanding loan. 3. Business relationships give rise to an insurable interest. An employee may insure the life of an employer, and an employer may insure the life of an employee.
Can you take out life insurance on someone without their knowing and be able to collect on it?
yes as long as you pay the policy
