Sunday, February 28, 2010

Life Insurance on Ex-Husband?

I am Divorced for 10 years and just got married again 2 years ago.

My Ex husband had not seen my son in 5 years (although he pays child support) and is now showing up to see him.

I had canceled a life insurance policy on my ex-husband awhile back, will it look okay if I try to insure him again?

Sure, but he'd need to submit to the medical exam, and sign off permission for you to insure his life.

When buying a life insurance policy on another person there must exist an "Insurable Interest" between the insured person and the owner of the policy.

Since you and your ex-husband have a son together, and your son relies on his father for child support, you can purchase a life insurance policy on him.

Usually, the insured person (your ex-husband) would be required to sign the life insurance application and he may be required to answer health questions, as well as, possibly taking a physical exam.

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