2006-11-19 16:57:11 · 5 answers · asked by mrsford24 1 in Pregnancy & Parenting ➔ Other - Pregnancy & Parenting
Yes, The owner of a life insurance policy, the insured party, and the beneficiary can all be different people. If the child is a minor then generally the money is not accessible until the age of 18 which is a drawback...however, sometimes it can be accessed by the child's guardian.
2006-11-19 17:05:11 · answer #1 · answered by kelvy107 3 · 0⤊ 1⤋
Unless you have permission by your baby's daddy, Legally you cannot take it out on his behalf, but if he is willing for you to do this for his child it would be very beneficial . His child would have a secure future.
You most likely would need to get the life insurance papers notarized showing his knowledge an approval of the policy.
2006-11-19 17:07:32 · answer #2 · answered by kimmy pletz 3 · 1⤊ 0⤋
If the baby's father signs off on it and names the baby as the beneficiary then yes, it is perfectly okay. I am almost certain of this, although not 100%
2006-11-19 17:03:44 · answer #3 · answered by Jill H 1 · 1⤊ 0⤋
Not sure what you mean.Baby has insurance or the father does?
2006-11-19 17:00:31 · answer #4 · answered by darlene100568 5 · 0⤊ 0⤋
are you together? if not i think the law states that the babies daddy would have to purchase the policy and state who he wants to be the beneficiary
2006-11-19 16:59:52 · answer #5 · answered by Brianna M 2 · 1⤊ 0⤋