Article Score0

My mother bought life insurance for me and I didn’t authorize her to do so. We don’t have a good relationship at all, and I don’t want her receiving any monetary benefit if I passed. I already have life insurance through my partners job so I didn’t need her to buy other life insurance for me. I recently went to her home and took out of her possession the life insurance policy and I plan today to call and cancel it. How dare this piece of crap mother of mine be allowed to scheme up some mess like this without my authorization. I need advice please! Thanks seniors! Oh im sorry about coming into your territory with such a shocking avatar picture lol.

10 Thoughts on Seniors?? is it legal to take a life insurance policy out on another person?
  1. Reply
    adeline
    November 14, 2011 at 7:37 am

    After googling this, it seems it is not legal. The person has to know about it and approve.

  2. Reply
    ♥♥♥You Go Girl♥♥♥
    November 14, 2011 at 8:20 am

    Yes you can buy ins on another person..=)

  3. Reply
    john
    November 14, 2011 at 8:33 am

    This question reeks of trolling.

  4. Reply
    Baw
    November 14, 2011 at 8:49 am

    When someone got life insurance on me, the ins company sent me a letter to inform me. I could contest it. Do you know the company?

  5. Reply
    dannysleft
    November 14, 2011 at 9:29 am

    since she has prolly had to support you most of your life she is protecting her self from having to pay your burial fees , if you were my kid and came into my house like you said you did your funeral would have been the next day jus sayin

  6. Reply
    rita
    November 14, 2011 at 10:14 am

    Did you know that most companies take out life insurance policies on their employees, for which your own family never sees a dime? If you die accidentally your employer collects $ 1 Million.

    http://en.wikipedia.org/wiki/Corporate-owned_life_insurance

    I would much rather see my mother benefit from my death than my employer!

  7. Reply
    handyman
    November 14, 2011 at 11:14 am

    I don’t know if it’s legal or not, but I do know that when my second husband and I were married, we took out an insurance policy on his mother, as we knew she had nothing in the way of burial expenses and we would never be able to afford it. I’m happy to report that lady is still alive and kicking, though. The policy has long since lapsed, but I’m sure he has made other arrangements.

  8. Reply
    proud walker
    November 14, 2011 at 11:43 am

    Yes. It is legal BUT you have to show you have a financial relationship with the person insured. This could be business partner etc.

    There are different rules In the case of a child (nder 21?)parents can take out a very limited policy. My insurance guy told me this was to stop people killing their own children for financial gain. Hard to believe, but there you are.

    Endowment policies may be different.

  9. Reply
    Nemesis
    November 14, 2011 at 12:15 pm

    Under UK law it is legal – so long as ‘insurable interest’ exists.
    That is – the policyholder can assure the underwriter he/she stands to lose (be financially disadvantaged) on the death of the life assured.
    It would apply say, if a rich parent had a lot of assets (eg a family home) but little income – and on the death of said parent, his/her heirs would probably be forced to sell the property to pay Death duties.
    Most insurers would agree ‘insurable interest’ existed and agree to write such a contract. The more common situation, of course, is for spouses to insure each other. A mother working full-time at home, tending children etc – would cause a widower considerable financial loss if the widower had to employ full-time housekeeper, nanny, etc.
    And vice versa, of course.
    I’ve never heard of a case of someone being insured without knowing about it – sounds extremely dodgy and I’d strongly advise you to write formally to the Insurers querying how they agreed to issue such a policy.
    COULD be a case of a forged signature, which indicated you were aware and approved the insurance being taken out.
    COULD be that your mother spun a tale about being reliant on your financial support, which would cease on your death – or that she’d lent you money to help buy a house, etc etc.
    I’d suggest you do not deal with it by phone – ALWAYS put it in writing. If the insurers were misled in some way, they’ll be most reluctant to get involved in a ‘domestic dispute’ – and since your mother seems to be the policyholder, paying the premiums, I can’t see how why they should take your instructions to cancel (over the phone) without checking with her.
    In which case – if she has misled them, perhaps even forged your signature – she might claim YOU are the unreliable party – agreed/approved etc but have now changed your mind, etc etc.
    It could become a tangled web of accusations and counter-accusations – especially if she managed a good copy of your ‘signature’.
    Please feel free to e-mail me for any further advice. I’ve been retired from the business for some 15 years and nowadays it seems adherence to basic principles (inc ‘legal niceties’) are often skipped over/neglected.
    I would be mad as a wet hen if someone somehow insured my life without me knowing about it – and and pursue it all the way to a criminal prosecution if forgery/misrepresentation was involved. The insurers might well have acted in good faith – so I’d get them ‘on side’, rather than accuse them of malpractice or even negligence.

  10. Reply
    CO the Old Dog
    November 14, 2011 at 12:52 pm

    Yes. It is legal. It happens all the time. It is no more than a bet on an occurrence.

    Leave a reply

    Register New Account
    Reset Password