Can some one take out a life insurance policy on you without notifying you?
Can some one take out a life insurance policy on you without notifying you?
Is an insurance company legally required to notify the person who's life is being insured? If not is there any way to see if a policy has been taken out in your name?
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31 Responses
2.1.2010
Best Answer – Chosen by Voters No. You determine your own benificiary. Some states have laws that require that your spouse be your benificiary, but they can't do this without your knowledge.
2.1.2010
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2.1.2010
Not that I know about they can not.
2.1.2010
YES, I HAVE HEARD THAT YOU CAN.
2.1.2010
I have my husband's okay verbally, but he did not have to sign anything for me to take out a life insurance policy on him through my benefits plan at work. I could have taken it out w/out telling him about it. I also have life insurance policies on both of my children. I think you have to have some sort of relationship if you are the beneficiary.
2.1.2010
Who you schemin' on girl?
2.1.2010
yes they can, atleast in alaska they can, my mother took one out on me when i had my daughter, so my daughter would be taken care of, and i didn't know it till she told me
2.1.2010
I think you can if it is "accidental life insurance". Which would not require blood test and such. And that is kind of scary, if I were you I would call an insurance company and ask. If you believe someone has taken out a policy, I would talk to someone about it (police, family).Take Care.
2.1.2010
I once had the option of purchasing a life insurance policy on my husband through my employer, and I asked that same question. I found out that you don't necessarily have to be notified (although some programs do require a physical and whatnot), but, like everyone else said, there does have to be insurable interest. Your spouse, parent, or grandparent–and in some cases your children–can take out a policy on you without your knowledge. I actually read (in Dear Abby, perhaps) about a grandmother who had bought a policy on her own grandson after he had gotten a few tickets in a short period of time. The grandmother told the insurance people that it was to cover the final expenses should the need arise. Anyway, the boy was involved in a fatal crash, Grannie kept the check, and his parents were stuck with the bill. Sad.
2.1.2010
Ok..forget all the legalese. Lets just give you an exercise in common sense. Lets go to a nursing home and pay a visit. While we are there we'll get the names of a bunch of terminals who's days are numbered and then will call Met Life and insure them all. Nope…I'm sure that would be just fine with everyone (eye roll), expecially Met Life. As they start to drop off, you and I will split the money. Now..THAT'S a plan!!!!!!!!
2.1.2010
They're not supposed to be able to. My ex-boss/ex-landlord (FYI- never rent from your boss!!) got one out on me one time by getting her sister to pose as me when it came time to choose the beneficiary. Freaky! I don't know what to even think about that, but when I found out I confronted her and she said she was only looking out for my best interest. Yeah, right. Like I was going to be the one to get the money when I died. Anway, It worked out that I was able to get the whole thing voided out– but it took awhile to do that. Needless to say, I quit that job, found a new place to live, and got as far away from her as I could.
2.1.2010
yes you sure can . I got several on people i dont even know. j/kbut seriuosly , I think you can .
2.1.2010
no not possible
2.1.2010
no but sometimes they don't have too tell you because in some cases you should know your self when the insurance is obligatory in the company you work for
2.1.2010
No ….Generaly speaking…..At point of Sale…The Agent MUST have the Consent of the Insured to apply for a policy.The only eception to this rule is when Parent insure infant childern…But then a the Age of 18 the ownership of the policy…Generaly transferrers to the Insured…. Source(s): I am a Licened Insurance Agent…Ohio,Life,Health,Property,Casual…
2.1.2010
there not supposed to Source(s): aunt
2.1.2010
well , the only way thas possible if the person has a power of attorney signed by you
2.1.2010
Yes, you can. Why are you planning on knocking someone off?
2.1.2010
no
2.1.2010
YOU FEEL SOME ONE TAKES AN INSURANCE POLICY WITHOUT YOUR KNOWLEDGE IN YOUR NAME .IT IS NOT THAT EASY .THE PERSON MUST BE SHOWN AND DOCTOR HAS TO VERIFY.NO ONE WILL BE TAKING RISK AND DO IT WHEN HE HAS TO PAY HUGE MONEY TO PAY .ALSO THE AGE OF THE PERSON IS ALSO SEEN After certain age no one will give a policy too.if you are in a panic do call up give your credentials and check it. Source(s): only people might take such a policy by a crooked way when the person's name and signatures and certificates obtained .INSURANCE POLICY IS NOT A SIMPLE ACTIVITY.THE REGISTEREDD COPY MUST ALWAYS BE KEPT WITH AN ORGANISATION WHERE THEY HAVE TO KEEP
2.1.2010
yes, your parents
2.1.2010
no. they could drink JUMAICAN RUM ON YOU but, they can not do that.
2.1.2010
It requires the beneficiary's signature and other info like SSN and such. Illeagal, but certainly doable.
2.1.2010
My company has life insurance policies on many of the employees with the company as the beneficiary. They get paid even if we die after we no longer work there. I did not give my permission. I could have opted out but I forgot to do it in time. I don't like it. I don't really understand what their intention was with this.
2.1.2010
You can take an insurance policy on anyone or anything you have an insurable interest in. That means that their death or loss will harm you or cause you to lose out on something.So i guess the ultimate answer is. YOU HAVE TO SHOW THAT YOU HAVE AN INSURABLE INTEREST IN WHATEVER YOU INSURE. Kinda like someone said record labels take insurance policies on singers because the singer's death causes loss to record labels. Source(s): A Textbook about Business
2.1.2010
I think you still have to notify the person you are taking a policy out on. Many people who are going to buy farmland from relatives do this so that when the person dies the farmer who has been paying the premiums gets the money and is then able to buy the land.
2.1.2010
The primary & basic requirement to obtain a Life Insurance cover, other than the documents,is the Insured life's signature with a medical report.
2.1.2010
They can if they are doing it illegally like *in the bussiness* and probably try to kill you too
2.1.2010
The insurance company must notify you if a policy has been taken out on you.
2.1.2010
Yes, I came extremely close to dying 3 times last year, and came home to find out a whole lot!Trust your instincts, always…God Bless
2.1.2010
yes it was on 60 min.. not that i believe anything those liars say.