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 Posted: Tue Nov 03, 2009 2:04 pm Post subject: Can i buy life insurance on my boyfriend. |
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Me and my boyfriend have been together for 3 years. We live together. He owns the house we now live in and makes the mortgage paments on that property. I pay all the other bills such as food, utilities, internet, cable. I was wanted to get a life insuracne plan to protect me in case something happens to him, just enouph to pay off the house and other expenses. Can I purchase life insurance on him.Or does he need to purchase it and put me as the beneficiary?
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| Posted: Wed Nov 04, 2009 1:30 am Post subject: |
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The safest way would be for you to be the owner, he the insured and you the beneficary, that way he cannot change the beneficary....Is there a reason you think he might die soon? How about him getting one on you as well?
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Lori
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| Posted: Wed Nov 04, 2009 1:48 am Post subject: |
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As lori said, you should be the owner and the beneficiary. It's a smart thing for you to do. Both of you will have to sign the application. You'll sign as the owner and he'll sign as the insured.
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fajlfoaruas
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| Posted: Wed Nov 04, 2009 10:01 am Post subject: |
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See, insurance is all about the unforeseen risks associated with your life. He's the owner of the house and so he's paying for the mortgage. Over here, he'd also need to be a bit responsible towards you.
You've spent 3 years with him and bore all other household expenses. It's your right to safeguard your financial interests and thus getting a policy in his name seems a good option. Just make sure you explain everything to him before he signs for it. |
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steven
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| Posted: Wed Nov 04, 2009 11:58 am Post subject: insurance |
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| (Hello, everyone. Been sick for a while...now I'm back). All I have to say is becareful of who you decide to put Life Insurance on. I'm not saying your boyfriend isn't trustworthly. I'm just saying think about it for a while. Do you trust him? Is he trustworthy,etc? Lots of 'bad experiences' (with friends of mine) with situations like this. |
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sdchargersfan
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| Posted: Wed Nov 11, 2009 6:24 am Post subject: |
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| I think getting a life insurance for him would be rather risky...especially considering that you two are not married and are still likely to find other partners. I'm not saying I'm negative about relationships, but like what sdchargersfan said, just be extra careful. |
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choco
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| Posted: Wed Nov 11, 2009 12:02 pm Post subject: |
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| Quote: | | I think getting a life insurance for him would be rather risky |
How would that be risky?...
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Lori
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| Posted: Tue Nov 17, 2009 4:34 am Post subject: |
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Married or not, because you basically depend on each other in one way or another, life insurance isn't a bad idea at all. In fact, it shows a level of responsibility seldom reached by those just 'going together.' I personally don't agree with the whole "risky / lack of trust / honesty / finding other partners" frame of mind. Husbands and wives can lie, cheat and steal just as easily as those who've been together for 3 years.
If you're not ready to get married. leave it alone and be happy - why screw up a good thing?
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InsInvestigator
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