No Medical Exam, No Waiting-Buy Direct, As Low As $3. Personalized Insurance Plans. Find A Budgeted Plan For You, Now. Cliff Wilson , former president of the National Association of Insurance and Financial Advisors, notes that group life insurance amounts are usually not substantial.
Law in most states says that you can buy life insurance on the life of your legally married spouse and dependent, minor children without their consent.
For obvious reasons, we’re not allowed to put money on the life of people , including a spouse , without their knowledge. Protecting Your Family From Loss of Income A primary reason for purchasing life insurance on a spouse is to replace the loss of their future income. Without valid consent , the life insurance contract is void. In order to obtain the contract, the owner would need to apply using the social security number of the insured person, the name, address, and also the insured person would need to sign a number of pages in the document.
To buy life insurance on other people without their knowledge generally can happen in only a couple of situations: You might be able to buy $0or $0of dependent life insurance on your spouse or dependent children at work without their knowledge.