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Yes, but they must have "Insurable Interest". Also, if you are over the age of 16 (in most cases) you must sign as the applicant giving them your consent. If you are over 16 and con't want someone to take life insurance out on you then don't sign. So in other words, insurable interest is your parents, grandparents, spouse, business partner etc. 4lifeguild
What else can I help you with?
Can anyone take out life insurance on someone?
If there is lawsuit, or sue.
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.
Can someone take out a life insurance policy on someone that they do not know?
Typically, the person being insured must consent to the life insurance policy. Without the person's consent or insurable interest, it is not permissible to take out a policy on them. Doing so could be considered fraudulent.
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 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
How do you find out if someone had life insurance after they die?
how do i find out if tom rowntree had life insurance
What is it called when someone buys life insurance on someone else?
On whose life, policy is purchased, he/she is called 'Life Assured', whereas the former is called the 'Proposer' in a life insurance policy.
Can a person take out life insurance on their sick daughter?
you can if your daughter is younger than 18 years. but they cant sell you an insurance if it is not under your name. you have to be able to have someone to insure.
Can you take out an insurance policy on your grandson with out his consent?
I can't think of a reason why not. If you want to pay someone to insure something (or someone) they should let you. I suppose it really depends on exactly what the insurance policy is (life insurance, auto insurance, some other general liability insurance). Check with the specific insurance company about the specific type of insurance for an exact answer.
Do you have to be a relative or wife to open a insurance policy on someone?
In order to take out life insurance on someone, you have to have what is legally known as "insurable interest" in that person. A spouse or dependant has an obvious insurable interest, but there are other cases as well. For example, a business can take out life insurance on a particularly valued employee. This is known as "key man insurance" (apparently key women are not as important) since the death of an employee can cause financial problems for the employer.
What is so great about Instant life insurance?
Instant life insurance refers to fast, pre approved insurance policies. This is good for someone who is on time constraints and needs life insurance.
