Can i cancel a life insurance policy someone has on me

Convert Your Life Insurance Policy to Cash. See if You Qualify in One Easy Step! While you may certainly purchase life insurance for your mother or father, you still need their consent and they must complete a series of questions and sign the application before the policy becomes active.

If you want to cancel your life insurance policy because your premiums are too high or because your health has change there may be a way to change the terms of your policy without canceling , depending on the type of policy you have. Now business-owned life insurance policies must have the consent of the insured , too.

On the other han a life insurance policyholder could need to cancel their policy because they have found cover from a rival provider at a better rate. You may decide to cancel your life insurance policy because the reason you bought your cover has changed. This means, you need to have a financial stake in their life , which gives them the right to attempt to protect their financial losses. They have no right to perform an exam on a product that you didn't purchase.

In fact, a lot of employers do this, too. Besides which, why would you want to have it cancelled (unless you think your parents are planning to kill you for the money, or something)? You can also refuse the medical exam.

If you are an adult, no one can put life insurance on you without your permission and consent. And when someone from the life insurance company shows up at your work, asking for blood and urine samples, and to see your license to verify. There are many reasons why you many need to cancel life insurance for yourself or a loved one.

You may no longer have the funds to pay for the policy. You may want to cash out the money that you have put into the policy , or you may want to cancel a policy with one company so that you can purchase a new policy with a different company. The only exception to this is life insurance on children. Usually the parent of a minor can purchase life insurance on the child without any additional reasons. Undoubtedly, discovering this policy must have triggered a flood of memories and feelings.

So, it is unlikely that someone proceeded to buy term life insurance (or any other type of life insurance policy ) on you. Life insurance companies take your privacy and security very seriously. If you’re looking to buy term life insurance for yourself (or for your spouse or loved one), Quotacy can help you get the best term life insurance rates today. You would have signed for this policy as the insured , and he likely would be the named owner on the policy. Unfortunately, once you gave him ownership rights to your life insurance ,. No Medical Exam – Simple Application.

Personalized Insurance Plans.

Find A Budgeted Plan For You, Now. Remember that if you smoke or are found to have taken drugs that have not been advised to your life insurance company this could void your policy. RE : Can the insured cancel a life insurance policy under any circumstances ? I am the insure he is the owner. If you have questions or concerns about life insurance policies purchased without permission, help is available.

A life insurance policy cannot be taken out on your life without your consent or your name being forged on the application. Some carriers allow for policies to be taken throgh the mail and this person could have forged your name. If I might offer a small counterargument - my parents have always held a life insurance policy on me , to handle any expenses that would come with my death.

The benefit is a rather modest amount, for the purposes described in the quoted comment. I have such policies for my minor children.