Can my ex boyfriend take a life insurance policy on me?

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Posted: Mon Oct 05, 2009 8:31 pm Post subject: Can my ex boyfriend take a life insurance policy on me?

I discovered a life insurance policy my ex-boyfriend had taken out on me 8 months before we split, naming him as the beneficiary but me as the owner. I was not involved in the application process and he has been paying the premium for the past six years. Is this legal?

lizking3

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Posted: Mon Oct 05, 2009 9:03 pm Post subject: sorry

i posted this in the wrong forum.

lizking3

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Posted: Thu Oct 08, 2009 10:22 am Post subject:

No, your boyfriend not take policy on you it's illegal. ___________________ Get Cheap Auto Insurance \| California auto insurance

sanvister

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Posted: Sat Oct 10, 2009 3:17 am Post subject:

Lizking, your question doesn't pass the smell test. You can't be the owner of a policy without being involved in the application. Sanvister, it's not illegal for a boyfriend to buy a policy on a girlfriend. _________________ Register Now to have your Insurance queries solved.

fajlfja

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Posted: Sat Oct 10, 2009 5:01 am Post subject:

I've picked 3 threads from our community forums that address different problems associated with policies involving one's ex-spouse, problems regarding beneficiary assignments as well as the cancellation procedures. http://www.ampminsure.org/life/former-spouse-policy.html http://www.ampminsure.org/life/assign-beneficiary.html http://www.ampminsure.org/life/cancel-policy-exspouse.html Please go through these threads to have a better understanding of how it works.

steven

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Posted: Thu Oct 15, 2009 8:01 pm Post subject:

sanvister said:

Quote:

No, your boyfriend not take policy on you it's illegal.

It's not illegal. It does require an insurable interest, but it's certainly not illegal. My concern is that if the OP is the policyowner as stated in her post, then she should be getting the information from the carrier. The owner of a policy is the one responsible for paying the premiums and controls all rights to the policy while the insured is still alive. Designating an irrevocable beneficiary alters this concept, but that isn't the issue here.

InsTeacher Cool

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InsTeacher

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Posted: Wed Nov 11, 2009 6:47 am Post subject:

Hmn... this doesn't make sense at all. The only questions I have in my head is: why would your ex-boyfriend get an insurance, name himself as the beneficiary and you as the owner, and then pay it off himself? Do you sense a kind of bad motive here, and if so, what could it be? Or do you think your ex-bf was duped and is paying for insurance premium to a company that's not legit?

choco

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Can my ex boyfriend take a life insurance policy on me?