Can I buy life insurance on my ex-boyfriend?
Can I buy life insurance on my ex-boyfriend?
I am a single parent and I would like to know that my child will taken care of if her father passes away. He should leave her something, I already have a life insurance policy on myself. He does not have an insurance policy at this time. Can I take the life insurance policy out on him and just pay the monthly premiums?
No related posts.
Related posts brought to you by Yet Another Related Posts Plugin.
10 Responses
2.1.2010
suregood idea too
2.1.2010
A better idea is to have the support order include a life insurance policy with your daughter the beneficiary.
2.1.2010
If you get him to agree to the coverage and an exam you'll pay a fraction of what you'd pay without an exam. So, yes you can get it.
2.1.2010
Yes, you can take out a policy on him. AND depending on your local laws, you may even be able to make him be legally required to pay for it out of his own pocket as well! But worst case scenerio, yes you can get it and pay for it yourself (as long as he consents to doing it). Source(s): insurance broker.
2.1.2010
No, you cannot unless he agrees to it.
2.1.2010
The requirement for purchasing life insurance on someone else is that there is "insurable interest." This means, in plain language, that the death of this person would materially and financially affect you. Yes, you can buy a policy for your ex-boyfriend, but it won't be easy. You will need to know information about his health. Be careful; there are a LOT of less-than-honest life insurance companies out there. Make sure that whomever you choose has a good "A.M.Best" rating (they're the analyst for insurance companies and they grade them the way you were graded in school; A, B, C, etc.) Don't buy life insurance from a newspaper for magazine ad, tv, radio, or the internet. Go to an agency and talk to a real person. Good luck!
2.1.2010
You need his permission, cooperation, and consent. If he gives it to you, yes.
2.1.2010
You can not get life insurance on him without his consent. Ask for a court order along with the support order that he gets it.
2.1.2010
Insurance companies require that you have an insurable interest before they will issue a policy. If the ex-boyfriend is the father of your child you should under those circumstances have insurable interest.A site I've used to compare quotes in the past …http://www.safelinked.info/go.php?link=i…Good Luck.
2.1.2010
If you want to purchase a life insurance policy on your ex and name your daughter as the beneficiary, there are a few policies out there that don't require a physical I can get you a policy within 48 hours if you know his information, and he is healthy. if you want you can give me a call @ 805-404-8379 anytime on Saturday or Sunday, and I will see what kind of rates we would be looking at.It might be something he would be willing to do. Source(s): Life Insurance Agent Since 2005