Is Life Insurance Required By Law?
16470 POINTSview profileDavid OsgoodAgent, Rural Mutual Insurance Co., Union Grove, WIBased on my limited experience within my geographic location, life insurance is not required by law. Life insurance is something that everyone should have though. If you can you should purchase a policy when you are young. The younger you are typically the lower your premium. Please contact a local agent to find out about availability and pricing within your area.Answered on October 16, 2013flag this answer.JPG)
63333 POINTSview profilePeggy MaceMost of the U.S.Life Insurance can be part of a court order in a divorce situation, or loan agencies may require that you have life insurance in order to get a loan. But for the average US citizen, life insurance is not required by law. Obamacare opened a door when it made it illegal to not own health insurance. But that does not extend to the realm of life insurance.Answered on October 17, 2013flag this answer
10968 POINTSview profileTim WilhoitOwner, Your Friend 4 Life, Brentwood TNLife insurance unlike health insurance is not required by law. There are scenarios where life insurance can be required such as a loan institution requiring you to carry a life insurance policy large enough to cover the debt in case of death. There are scenarios in court cases such as a divorce where life insurance is court ordered to cover alimony or child support. But over all unlike health insurance on the federal side of the law and car insurance on the state side of the law, life insurance is not required by law.Answered on February 27, 2016flag this answer
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