Best life Tips and References website . Search anything about life Ideas in this website.
Can You Take A Life Insurance Policy Out On Anyone. “you have to have an insurable interest in that person,” says dennis lavoy, founder of. You need to have insurable interest and their participation to submit an application.
Giant Image Management Diary of Silviamatrilineally from giantimagemanagement.com
“you have to have an insurable interest in that person,” says dennis lavoy, founder of. So to recap, you can not take out a life insurance policy on someone without their knowledge, and no one should be able to do it to you. So, unless there is an insurable interest, a life insurance company will not issue a policy.
Giant Image Management Diary of Silviamatrilineally
When you take out a life insurance policy on someone, the insurance company needs to review the insured person's health history and other details. To complete that task, the individual being insured will need to answer some basic questions and may need to undergo a medical exam. You own the policy, so you control who is the beneficiary (typically, you’d choose yourself). In order to have a valid policy, the owner must:
