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Subject:
Purchasing Life Insurance without the insured's knowledge possible to do?
Category: Health Asked by: alexis22-ga List Price: $10.00 |
Posted:
06 Jun 2006 02:51 PDT
Expires: 06 Jul 2006 02:51 PDT Question ID: 735679 |
A family of 7, with 5 young childen,Father does not want to protect his family by keeping adequate life insuance Could another family member do this on the childrens behalf -- insure their dad so t |
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There is no answer at this time. |
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Subject:
Re: Purchasing Life Insurance without the insured's knowledge possible to do?
From: jack_of_few_trades-ga on 06 Jun 2006 05:57 PDT |
There is such a thing as "confidential life insurance" where you can obtain insurance on someone's death without them even knowing about it... but I don't think this is available to family members. I have only heard of these policies being used in business cases (ie I have a partner in my business... and I could not run the business without him so I have an insurable interest on him). The best option in such a family case is to explain to the father that the family isn't trying to get rich off of his death, but doesn't want to be impoverished either. I'm assuming that the family with 5 kids is very dependant on his income and would be put in a very difficult situation if he was not there to provide for them. An easy arguement to make might be enough insurance to pay off the house you are living in (or buy a house large enough to hold the family). Housing is expensive yet it is a necessity whether he is there to pay for it or not. |
Subject:
Re: Purchasing Life Insurance without the insured's knowledge possible to do?
From: murunbuchstansinger-ga on 06 Jun 2006 11:12 PDT |
The life assured has to give medical details and sign to say they are accurate. With a larger sum assured, or medical complications then a medical exam may be required. |
Subject:
Re: Purchasing Life Insurance without the insured's knowledge possible to do?
From: cynthia-ga on 06 Jun 2006 12:10 PDT |
Here's an example of Confidential Insurance: http://www.piu.org/pdf/Confidential%20Life%20501.pdf |
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