Can my mom get life insurance on my kids without my knowledge?

My mom and I don't get along, and now she is asking for my children's social security numbers so she can buy life insurance on them.

Is she able to take out a life insurance policy on my kids without my signature or something saying I have agreed to it?

In order to buy life insurance on another person there must exist an insurable interest.

An insurable interest does exist between spouses, parents and their children/grandchildren, siblings, and business partners.

The grandmother of your children would probably be able to take out a life insurance policy on your children since she is the grandparent. However, she would have to pay the premiums.

If she does, you may want to advise your children when they reach age 18 that they should ask for ownership of the life insurance policies from their grandmother.

Here's how you can learn more about life insurance for children.

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Insurance without any Medical Exam,
Just a Few Health Questions.



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Low Cost Child Life Insurance Plans?

How can I find low cost child life insurance coverage for my kids?

Life insurance rates are based on the applicant's age and health, among other factors.

That means, since kids are young, they have much lower rates for life insurance than most adults.

In fact, some life insurance plans for children offer life insurance coverage for as low as just a few dollars per month, depending on the insurer, amount of life insurance, and type of policy.

Among the better-known insurers offering child life insurance policies are Prudential Gerber, and Globe Life and Accident Insurance Company.

Here's how you can learn about life insurance for children and request your low cost child life insurance quotes online.

NEW! Here’s How to Buy up to $500,000 of Term Life
Insurance without any Medical Exam,
Just a Few Health Questions.



Disclosure: Compensated Affiliate

What is the Purpose of Life Insurance Policies for Children?

Why purchase life insurance on children?

People have been buying life insurance coverage on their children for decades in America.

There are many reasons, but here are some of the most common:

To Pay Funeral Costs - It's meant to help pay off funeral costs and the cost of living while grieving. If someone to lose their child and had life insurance on them, then hopefully they would have the financial ability to take off time from work and grieve over their loss.

Insurability - It is wise to purchase life insurance as young as you can be. As you grow up, you might have a decrease in your medical status, which may lead to you being rejected for insurance, or be required to pay more or even be excluded for preexisting medical condition. Buying your child life insurance buy him/her also the opportunity to continue it as adult at favorable rates

Savings Plan - Some life insurance plans for children build cash value which may be used to take a loan from in the future.

Learn about about life insurance for child plans and how they may help your children.

NEW! Here’s How to Buy up to $500,000 of Term Life
Insurance without any Medical Exam,
Just a Few Health Questions.