Are there any life insurance policies?

Question

that do not require signatures? I know they have them out there that do not require a physical exam.
Trying to help a friend w/info to keep them out of trouble, see other post of mine
are there any life insurance policies that do not require signatures?
And why is it legal to sign someone's name w/an attorney if the other person isn't present? That doesn't make sense

Answer 1

A person other than the insured can get a policy on the life of another if they have an insurable interest. Valid forms of insurable interest include being a spouse, being financially dependent on the person, or situations where there is joint ownership of real property or a business.

This concept of insurable interest was established to prevent:

* gambling (on the lives of others), under the pretence of being insurance
* the moral hazard of people taking out insurance on someone's life, and then "arranging" for that person to die - so that they can claim on the policy

A business partnership can get insurance on the life of a partner in the business ("key man" insurance), which is often used to fund a buy-sell agreement. A husband could buy a policy on his wife or children without their signature, and so on.

There are three parties to a life insurance transaction: the insurer, the insured, and the policy owner (policy holder), although the owner and the insured are often the same person. For example, if Joe buys a policy on his own life, he is both the owner and the insured. But if Jane, his wife, buys a policy on Joe's life, she is the owner and he is the insured. The policy owner is the grantee and he or she will be the person who will pay for the policy.

The beneficiary receives policy proceeds upon the insured's death. The owner designates the beneficiary, but the beneficiary is not a party to the policy. The owner may change the beneficiary unless the policy has an irrevocable beneficiary designation. With an irrevocable beneficiary, that beneficiary must agree to any beneficiary changes, policy assignments, or cash value borrowing.

In cases where the policy owner is not the insured (also referred to as the cestui qui vit or CQV), insurance companies have sought to limit policy purchases to those with an "insurable interest" in the CQV. For life insurance policies, close family members and business partners will usually be found to have an insurable interest. The "insurable interest" requirement usually demonstrates that the purchaser will actually suffer some kind of loss if the CQV dies. Such a requirement prevents people from benefiting from the purchase of purely speculative policies on people they expect to die. With no insurable interest requirement, the risk that a purchaser would murder the CQV for insurance proceeds would be great. In at least one case, an insurance company which sold a policy to a purchaser with no insurable interest (who later murdered the CQV for the proceeds), was found liable in court for contributing to the wrongful death of the victim (Liberty National Life v. Weldon, 267 Ala.171 (1957)).

Answer 2

I recommend you to visit this internet site where you can compare quotes from the best companies: http://INSUREQUOTE.US/index.html?src=2YAvnnlkHM52

RE :Are there any life insurance policies?
that do not require signatures? I know they have them out there that do not require a physical exam.
Trying to help a friend w/info to keep them out of trouble, see other post of mine
are there any life insurance policies that do not require signatures?
And why is it legal to sign someone's name w/an attorney if the other person isn't present? That doesn't make sense
Follow 3 answers

Answer 3

hello
all life ins. co. require a signiture.
its the law.
other wise the co.'s fake scam..
answer to 2nd ?
so you don't get phuked or taken.
if there fake yes, if your fake yes.. you have to show your drivers id or other...
safety is for u and co.
best

Answer 4

If there are, they are not worth the paper they are written on