1. 4827 POINTS
    J Paul Wilson CFP, CHFCPRO
    Certified Financial Planner, JPW Insurance Retirement Investments, Halifax, Nova Scotia, Canada
    If you have insurable interest and your ex gives permission then you can get insurance on your ex.

    In fact in is prudent to include life insurance coverage requirements divorce settlements. This way financial obligations such as child support can be protected.

    If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.

    If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.
    Answered on June 8, 2014
  2. 10966 POINTS
    Tim WilhoitPRO
    Owner, Your Friend 4 Life, Brentwood TN
    There are certain reasons to be able to purchase life insurance on an ex-spouse. Regardless, there has to be an insurable interest, in other words, what financial need must be meet if he or she were to die? There are many cases that a judge orders life insurance in a divorce case to cover alimony or child support in case of a premature death.
    Regardless of the reason in all cases, the ex-spouse must give permission and have knowledge to be underwritten by the life insurance company.
    Answered on June 8, 2014
  3. 15433 POINTS
    Jason GoldenzweigPRO
    Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
    Yes you can (assuming it's a former spouse). It's typically seen as part of a divorce agreement for alimony purposes and/or protection of the children of the former spouses. In this type of scenario, the amount and length of coverage required to be placed in force will be determined in the divorce agreement.

    The ex-spouse must agree to have a life insurance policy taken out on them and there must be an insurable interest, a carrier won't approve a policy without these two components.

    I hope the information is helpful - please feel free to contact me for help and if you have any other questions. Thanks very much.
    Answered on June 9, 2014
  4. 7479 POINTS
    Steve KobrinPRO
    President, The Firm of Steven H. Kobrin, LUTCF, 6-05 Saddle River Rd #103, Fair Lawn, NJ 07410
    Yes, indeed, you can. And there are a variety of ways to do it.

    Divorce decrees have a lot of teeth to them. If life insurance is mandated in that agreement, then your ex will have to cooperate. You can be the owner and beneficiary, but he or she will have to sign the application and go through underwriting.

    These decrees typically are issued during the process of divorcing. But what if the deal is done and now, after the fact, you want to get coverage on that person?

    A lot of it hinges on what financial dependence you have. If your ex still supports you, then you have a huge interest in a policy. An insurance company would certainly consider that a legitimate reason for you to apply for one.

    Of course, your ex would have to agree to it. If not, then you might have to go back to step one and get lawyers involved.

    But what if your ex does not agree to it, and the lawyers can’t do anything about it?

    There are certain carriers who will issue coverage under these very extraordinary conditions. If you can prove that you have a financial interest in that person, and that they are absolutely not cooperating in honoring that obligation, then a carrier might just issue a policy without your ex knowing it. These carriers are excess- market carriers and take only special cases. And they charge for it.

    But typically the price is well worth it, if you need that coverage.
    Answered on August 10, 2015
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