Can You Carry A Life Insurance Policy On A Family Memeber Without Their Permission?
Posted May 23, 2009 – 12:10 pm in: structured settlements FAQWe recently found out that our great uncle supposedly has life insurance policies on everyone in the family. We are located in Ohio and we are just concerned with this situation and would like to know the answer!
Tags: Carry, Family, Insurance, Life, Memeber, Permission, Policy, Their, Without
4 Comments
Life insurance covers lots of different things. Since I’m from Iowa I’m not familiar with the Ohio regulations, so I recommend you call a nearby insurance agent. http://www.easylifeinsuranceguide.com/Oh... They should be able to assist you.
No, he would have had to have committed several acts of fraud including faking signatures and possibly medical tests. He also would have had to lie to the insurance company about his insurable interest in all of you. He also would have had to either know or correctly makeup all of your personal and health information or else his incorrect answers would forfeit the benefits.
Given that it is your great uncle he will probably die before all of you and will have wasted his money paying premiums on policies he probably never would have been able to collect on if he actually is doing this.
A person can find a wide range of life insurance options; among them term life insurance policies is much is demand and is less expensive among all the term life insurance policies. This is due to the coverage which can be got at the time of purchasing a term life insurance policy. Whereas in case of other policies, like a whole life insurance a person also has to buy an investment element.
Only if they are a minor, and you are their guardian.
He doesn’t. Whoever is saying that is just stirring up trouble.