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by sokoloff
407 days ago
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> You'd probably be shocked how common it is for former-spouses to try and take out insurance policies without the other knowing during divorces. If they were receiving spousal support (“alimony”) or child support, this seems unsurprising and sensible. |
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You need both an insurable interest and consent of the insured in order to buy an insurance policy on someone else’s life.
Couples separating and holding policies on each other is pretty common and carriers have some specific rules to follow to make sure there’s appropriate mutual consent for policy changes etc