Can you take out insurance...?

Question

I'm doing some research and need to know if its possible to take out life insurance on someone without them knowing. I'm pretty sure I read somewhere that you can, but need to get some clear answers. Thanking you kindly.

Answer 1

You can, but only on a minor child who does not comprehend what life ins means.

A parent may wish to take out a modest amount of life ins on a child, to pay for burial expenses should a tragedy occur.

Other than that, ,no.

Answer 2

Only in limited circumstances.. you always need an insurable interest.

read all about it: http://www.insuranceyak.com/ten-most-ask...

Answer 3

Typically, a person can purchase group insurance through his/her employer that covers his/her spouse without the spouse's signature.  In all other situations, the party being insured must sign, unless s/he is legally incompetent to do so, and someone else has POA or legal guardianship.  But if that's the case, the insurer will have to evalute whether that person is insurable, based on his/her medical history.

Answer 4

No, you can not take life insurance on someone without them knowing, first, they would have to sign the application.  Second, most likely the company would want a para-med done on the person.  Third, you would have to have an insurable interest, in other words, be a spouse, child or business partner.

Answer 5

Thanks for the nod Ernesto.  This is only available in very limited circumstances where you can prove insurable interest through a contract (such as business or divorce).