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Terry Kuhler the Managing Director and his terrible decisions in respect of the direction the Company took, and his two sons for the abysmal sales....

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13y ago
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Q: Who was to blame for the demise of Eurotek Office Furniture in West Sussex?
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Can you buy a life insurance policy of any kind on your ex husband with yourself as the beneficiary?

You may be able to obtain coverage on an ex-spouse if you are dependent on them for financial support. Many times during a divorce, you can get the court to require that the ex-spouse obtain life insurance....important to note is that if this is the case with you, insist that you are named the owner of the policy in addition to being the beneficiary as the owner can change the beneficiary. I'm sure if your ex-husband meets an early demise this post alone will bring the police to your door. Anyway, no, you can't do that for the obvious reason. This answer is not true. If you check reputable insurance sites on line you will see what my son told me (he used to sell insurance). You can, in fact, take out an insurance policy on someone else, as long as you can prove that you would be impacted financially by that person's death. The ex-husband scenario is only one of many which might conceivably be perfectly legitimate. Again, check reputable sites online--don't just ask friends and strangers in cyberspace! I always advised my friends that were divorcing, especially the wife, to make sure her representative requires, by the court, that the ex purchase a life insurance police, term, on himself, naming the children as beneficiaries. I agree with answerer 1 above in that the wife should be named the owner, for she will receive the notice of non-payment whenever the ex does not meet his obligations. She can immediately contact the court and the court will cite him for contempt of court. And, of course, agreement with her as the owner, for she is the only one that can change the policy in any way. I don't agree, however, entirely with answerer 2 above because a person cannot take out a life insurance policy on someone else just for the taking. There are rules, policies, and laws that have to be obeyed. I agree with the note on insurable interest but let me add that the intended insured must sign the application. He or she must also, usually, take a medical exam. All this is covered if you send for an information booklet from your state's insurance commissioner. I also recommended to the wife that she make sure that her ex takes out an annuity rider but so that he can't claim any money in the future, she makes the payments into the annuity. She can deposit any extra money she comes into, be it a 10 bill on the street, and IRS check, or part time employment money. She is building her own next egg for her future. If the ex does not die before the children are 18 (22 in some states), then there is no money for their futures because they will be automatically removed from the policy. Space limits any more here. State insurance commissioner. Got for it!


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