Can someone buy a life insurance policy for someone else without their knowing?
Can someone buy a life insurance policy for someone else without their knowing?
I'm worried that someone may have bought a life insurance policy for me without my knowing. Is this legal? And is there any way for me to find out whether someone has a policy on me?
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3 Responses
1.31.2010
Nope. A person can only buy the policy for another if the former is dependant on the latter. For example a parent and his/her child. Plus, this can't happen if you're above 18 which will then only allow you to buy your own policy.
1.31.2010
The person buying a policy must usually have an "insurable interest" in the person being insured. Example: A parent buying a policy for a child. Part of the application ususally asks for the relationship of the owner to the insured.
1.31.2010
no longer legal.if they did , what does it matter to u ? u didn't pay for it.is the some one a person u know?yes -ask them. no? why worry. Source(s): biz owner