Can a person takea life insurance policy out on someone without their permission orknowledge?

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Can a person takea life insurance policy out on someone without their permission orknowledge?

The individual that took out the policy, recently asked for my SSN to update her life insurance policy with me as her beneficiary (relative). I provided my SSN but later had second thoughts since the parties have an up and down relationship. Recent documents were found; a policy had been taken out on me in 1994 without my permission, knowledge, or signature. Of course she made herself beneficiary, signed my name, and filled out the policy entirely. I was incarcerated for 10-years. I haven’t signed anything. What are my rights or do I need an attorney?

Asked on June 18, 2011 under Insurance Law, Colorado

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

In order to take out a life insurance policy on the life of another person one needs to have what is known under the law as an "insurable interest" in that person's life.  Spouses have insurable interests in each other 's lives; business partners in each others lives; parents in the lives of their children.  Relatives who support other relatives can also have insurable interests.  Here you have not given a lot of information as to your relationship but I am going to assume that she does not have an insurable interest in your life.  If that is the case then the policy is void.  I am assuming that she has been paying the premiums.  What here do you want to do?   You can contact the insurance company and advise that you have become aware of the policy and that you did not execute any documents and that you believe that the policy is a fraud.  An investigation will begin no doubt in to the matter.  You can consult with an attorney if you wish to take legal action against her  Good luck.


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