No Consent Life Insurance

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Posted on 22nd September 2009 by Rita in Life Insurance

While at work, I handle a number of Live Chat inquiries that come across a Life Insurance website. As a result of this job, I get some unusual questions presented on my screen. Recently I was asked if someone could purchase life insurance for a parent without their (the parent’s) consent?

At first I get a big chuckle from the question, then I begin to think why would you want to do such a thing? Are you up to no good? I do not know of any insurance company that would issue such a policy without the proposed insureds signature. The only situation that I can think of that would require no signature from the proposed insured is when a parent obtains a policy on a minor child to cover the funeral expenses that may be a hardship if the unfortunate happened to the child.

To the best of my knowledge there is no such product available from any reputable insurance company. If you know of such a thing from personal experienced or know of someone who has, I would be wondering if the proposed insured had their signature forged on the insurance application. If there is an insurance company out there that says they offer such a product, I would also be wondering how legit that particular company is?

The basic requirement for life insurance is the person who buys a policy must have an insurable interest of the person being insured. Insurable interest is having an interest in the survival of the person who is being insured. For example, a wife has an insurable interest in her husband”s life, because she would be financially harmed if he were to die. Another example, a company owner has an insurable interest in a key employee”s life. The talents and experience of key individual(s) account for much of the business success. Therefore the company would suffer financially if the key employee were to die.

Learn more about the different Protection Types of Life Insurance


Note: This blog is designed for general information purposes only. All information presented on this site should not be interpreted as legal advice and the author assumes no responsibility or liability for the actions taken or not taken by the readers based upon such information. For legal and tax advice contact your attorney or tax adviser.

Rita Sollie, Direct Insurance Representative with North Coast Life Insurance Company (NCL). No gimmicks or schemes here, just genuine and honest service. We don’t sell insurance, we solve problems. I welcome the opportunity to show you what NCL can do for your Life Insurance and Financial needs.
View INSTANT Term-Life Quote: www.insureyourfamily.com
If you prefer to speak with a local financial representative, call or email your request and you will be connected with a representative in your area.
Contact info: Phone: 800.541.5858 Email: rita.sollie@nclife.com or Live Chat below.

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