Can my father take life insurance out on me (adult)?

Question by Brain: Can my father take life insurance out on me (adult)?
I am in my twenties and not living at home. However, I am currently driving my dad’s car and he is paying the insurance. My mom recently told me that she found out once he had secretly purchased a ton of life insurance for my entire family. I would just like to know if it is possible for him to still do this.

Best answer:

Answer by John A
Yes – as long as he can prove something called “insurable interest”. It is up to the life insurance company underwriting the policy to ensure it is in compliance with all the various rules. If a policy was taken out on someone while they were over age of majority, it is mandatory that the insured signs it. If someone in your family is positive he took an indivdual life plan out on them at time when they were over age of majority without them signing off it is possible he forged it in which case it could be contested. However, if it was contested upon payment then you really couldn’t complain could you. (you’d be dead)

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4 comments to Can my father take life insurance out on me (adult)?

  • pretzel2222

    How could he “secretly” purchase insurance on you? Did he “secretly” do a physical on you to get it past underwriting?

  • aaron p

    Not without your permission. Even the programs that are set up for “confidential life insurance” without the insured’s knowledge would not consider driving his vehicle as sufficient, contractual evidence.

    If he took it out on you as a minor, nothing you can do about it now, and the issue limits are usually low – $ 50k to $ 100k, depending on the company.

  • still married

    Your father might have been able to take life insurance out for you and your family when you were under the age of 18. But now since you are of legal age, in order for him to take a new life policy on you the life company will need your signature and depending on the company and the life insurance amount you might need a physical exam too. Hope this helps.

  • Professor Wonderful

    Still do this? Not without your consent, as mentioned above.

    Insurable interest is rarely needed for blood relatives.

    Your dad may be at risk of losing his home if you, as a ‘child’, have an accident. An attorney can claim you were only one percent responsible for the accident, yet seek to take all of your dad’s assets.

    (A woman loaned another child of your age the cash to buy a car. There was an accident. The child was not charged. The woman lost her life savings through a $ 950,000 lawsuit.)

    I would be more concerned about the father than you.

    If your question really means, “can he still pay the premiums for a policy purchased while you were a minor”, then the answer is – unequivocally – “Yes”.

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