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Can I take out life insurance on my ex-husband? (Insurance Law)

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• Sat, 06 Oct 2007 07:28:00 GMT(1)

• Quote:

  Originally Posted by sat147

  Hi. I live in PA. I want to know if I can take out a life insurance policy on my ex-husband. We have a 3 year old son together. I receive $53 a month in child support. I am pretty sure my ex doesn't have any life insurance and even if he does I don't know if he would allocate any money towards our son. I want to know if I can take out a life insurance policy on him so I know I will still have money to help raise my son if my ex were to pass away.
  As far as I know my ex is healthy. He is 38 years old and is a non-smoker. He doesn't have any health conditions that I am aware of. I don't know if he would have to sign off on paperwork if I wanted to open a policy. If he has to, I don't know whether or not he would. I don't know what difference it would make to him since I would be paying for the policy. Please help me get some answers!
  Thanks,
  Susan

  As long as he agrees to it, then yes.
• Sat, 06 Oct 2007 07:34:00 GMT(2)
• Mo, I have to ask.
  Since the OP has an insurable interest (the common child and the costs the father is expected to pay) why would OP need the consent to purchase life insurance on the ex?
• Sat, 06 Oct 2007 07:35:00 GMT(3)

• Quote:

  Originally Posted by justalayman

  Mo, I have to ask.
  Since the OP has an insurable interest (the common child and the costs the father is expected to pay) why would OP need the consent to purchase life insurance on the ex?

  You ALWAYS need the insured's permission, unless the insured is under 16.
  edit: Many companies wouldn't consider her to have an insurable interest, since they are no longer married, AND since the insurance company doesn't know (for a fact) that he's the father of her child. In many cases, he would have to be the original owner of the policy, but can then transfer ownership immediately after the policy is issued.
• Sat, 06 Oct 2007 17:47:00 GMT(4)
• Mo is correct - when doing life underwriting, we would never accept an application on an adult w/o their consent. They need to sign the app. agreeing to the ins. & might possibly also have to take a medical exam, etc. for the ins.
• Tue, 09 Oct 2007 10:12:00 GMT(5)
• I have the opposite issue. I have been divorced for 18 months. I couldn't afford my life insurance premiums when we first divorced so I signed it over to him to pay. Now, I can afford the premiums and the ex is getting remarried. I am just not comfortable with them having a life insurance policy out on me. Yet, he won't sign it back over to me.
  My insurance company says there is nothing I can do.
  Is this correct? My ex can have the policy even if I no longer agree for him to have it?
• Tue, 09 Oct 2007 10:19:00 GMT(6)

• Quote:

  Originally Posted by InFlorida

  I have the opposite issue. I have been divorced for 18 months. I couldn't afford my life insurance premiums when we first divorced so I signed it over to him to pay. Now, I can afford the premiums and the ex is getting remarried. I am just not comfortable with them having a life insurance policy out on me. Yet, he won't sign it back over to me.
  My insurance company says there is nothing I can do.
  Is this correct? My ex can have the policy even if I no longer agree for him to have it?

  You really should start your own thread with your question, but, no, there is nothing that you can do. It was always the possibility that he could get remarried. I have no idea what you expect your ex to do, simply because he's paying for your life insurance, that he could not have done before he decided to get remarried.
  If you have additional questions, please start your own thread.
• Tue, 09 Oct 2007 10:35:00 GMT(7)
• To the OP:
  If it will make it easier for your ex to agree - perhaps you can have your child be the owner of the policy? Just a thought.
• Tue, 09 Oct 2007 10:37:00 GMT(8)

• Quote:

  Originally Posted by Zigner

  To the OP:
  If it will make it easier for your ex to agree - perhaps you can have your child be the owner of the policy? Just a thought.

  Nope. Child is 3. Won't happen.
• Tue, 09 Oct 2007 10:45:00 GMT(9)
• Probably the purpose of the life insurance policy is to replace child support if the other parent were deceased. Putting it in the name of the child would defeat this purpose since the money is to help mom raise the child.
• Wed, 10 Oct 2007 16:33:00 GMT(10)
• Why not at least make the child the beneficiary?
• Wed, 10 Oct 2007 17:18:00 GMT(11)
• IMHO, you should EACH take out life policies against each other. After all, if you died, he'd become the CP - and be just as needy of the financial help you are looking to the life policy for.
• Wed, 10 Oct 2007 17:27:00 GMT(12)

• Quote:

  Originally Posted by ecmst12

  Why not at least make the child the beneficiary?

  While that's an option, making the child the bene won't help mom should dad die before the child is of age.
• Thu, 11 Oct 2007 08:40:00 GMT(13)
• Thanks to everybody for their responses. I don't have a problem bringing it up to him and asking him to sign paperwork. If he wants to take out life insurance on me I would sign the paperwork.
  I do have my own life insurance with my son as the beneficiary in case something happens to me so my son would be taken care of. Of course I don't want all of that money to just go right over to my son's father for him to spend anyway he wants. I want the money to be spent on my son and the amount is enough that there should be plenty money to set aside for his college.
  Hopefully I won't ever need this and neither will my son or my ex but I figure it is better to be safe than sorry.
• Thu, 11 Oct 2007 08:46:00 GMT(14)

• Quote:

  Originally Posted by sat147

  Thanks to everybody for their responses. I don't have a problem bringing it up to him and asking him to sign paperwork. If he wants to take out life insurance on me I would sign the paperwork.
  I do have my own life insurance with my son as the beneficiary in case something happens to me so my son would be taken care of. Of course I don't want all of that money to just go right over to my son's father for him to spend anyway he wants. I want the money to be spent on my son and the amount is enough that there should be plenty money to set aside for his college.
  Hopefully I won't ever need this and neither will my son or my ex but I figure it is better to be safe than sorry.

  Your son won't be taken care of, if he is the beneficiary. It will be put up for him when he is 18. It won't be used to pay for some of his expenses.
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