Is there a way to find out if someone has taken out a life insurance policy on you, without your knowledge, much less permission? And if they have, is there a way to have that policy cancelled or any other legal reprocussions?
2006-12-05 05:11:56 · 6 answers · asked by Jessie B 1 in Business & Finance ➔ Insurance
Unless someone is legally incompetent and has a legal guardian, or they are a minor, life insurance cannot be taken out on their life without their knowledge.
If the insured person is 18 or older, they have to sign the life insurance application, and submit to blood & urine tests, AND release their medical records to the insurance company.
The legal repercussions of taking out a life insurance policy with a forged insured's signature are, it voids the policy (so the company doesn't have to pay out), AND, the person who forged the signature is prosecuted for both insurance fraud and forgery.
2006-12-05 11:26:22 · answer #1 · answered by Anonymous 7 · 0⤊ 0⤋
Can it be done? Yes by forgery. If that is the fact then prison is for them. Many companies take out KEY man insurance on some employees. But They are correct you must sign the application. Insurance must have some correlation between the insured and the beneficiary.
2006-12-05 05:30:19 · answer #2 · answered by golferwhoworks 7 · 0⤊ 0⤋
I don't believe that's possible because the insurance company would need to know which person you're talking about. There would have to be some kind of identification number to verify that's the person you want like a Drivers License or Social Security Number.
You could tell them John Smith but there are hundreds of thousands of John Smiths. If they had some ID stuff on you then they could but it wouldn't be for that much money and it'd be illegal.
2006-12-05 05:18:59 · answer #3 · answered by bmusementpark 2 · 0⤊ 0⤋
They may do so fraudulently, but you may have to do some real searching to find which company it's with. And you can file charges against anyone caught by contacting the Dept. of Insurance of the state you reside in. More info. available through National Insurance Crime Bureau - www.nicb.org
2006-12-05 09:43:50 · answer #4 · answered by $$Cypher 2 · 0⤊ 0⤋
Life insurance policies must be signed by the person who the policy is written against.
2006-12-05 05:16:44 · answer #5 · answered by words_smith_4u 6 · 1⤊ 0⤋
who wants to go into the SOLI (Stranger Owned Life Insurance) market and pool mortality risks of old people versus the paying ability of an annuity?? (you think I'm joking, but this is for real)
Actually, you have to know the person in some capacity to have life insurance on them, but SOLI I think only uses a minimal connection to the insured.
2006-12-05 12:00:16 · answer #6 · answered by Modus Operandi 6 · 0⤊ 0⤋