"Insurable interest" for a girlfriend
Question Details: I would like to change the beneficiary of a life insurance policy that I've had for two years, to my girlfriend. The previous beneficiary was my brother, who I was supporting at the time but am no longer. My GF and I have been together four years, but don't live together. If something should happen to me, will the insurance pay out to my GF, or could they deny the claim because of a lack of insurable interest?
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"Insurable interest" has to do with a person insuring someone elses's life; not the case here. As the owner and insured, you can name whoever you want as a beneficiary.
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