Can Anyone Take Out A Life Insurance Policy On Me?
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63333 POINTSview profilePeggy MaceMost of the U.S.Technically, no one can take out a life insurance policy on you without your knowledge. You must sign the application and engage in the underwriting process (phone interview, exam, or whatever is required) to give your consent. If another person would forge your signature, that would be insurance fraud and subject to penalties.Answered on October 20, 2013flag this answer
16470 POINTSview profileDavid OsgoodAgent, Rural Mutual Insurance Co., Union Grove, WIWhat Peggy states is completely true and well written. On the other side of the question though. If you are asking if someone else can own a life insurance policy that is taken out on you. Then the answer is yes. A parent can purchase a life insurance policy on a child. A grandparent can purchase a policy for a grandchild. A company can purchase a policy on a company employee. The main requirement besides your participation is what is called an insurable interest. Contact a local agent to discuss your coverage needs and concerns.Answered on October 22, 2013flag this answer
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