How do you find out if someone has a life insurance policy on you?

Free Insurance Comparison

secured lock Secured with SHA-256 Encryption

Asked July 6, 2010

1 Answer


Insurance companies are usually very strict about who they will allow to take out a life insurance policy on someone else. Their primary concern is that the person taking the out policy has an insurable interest, which means that person stands to lose a great deal if the insured person dies. The reason an insurable interest is important is to prevent just anyone from taking out a life insurance policy on a billionaire and then collecting the money when, effectively getting a large return on a small investment and costing the insurance company a lot of money for no logical reason.

Parents can take out a life insurance policy on children under the age of 16 without that child's knowledge or permission. Other than this exception, insurance companies will typically require the insured party to sign a consent form or file for the coverage themselves. In most cases, the insured person will be required to provide a signature that verifies the policy is legitimate.

Some states have made this verification of the insurable interest a law, and all life insurance companies are required to get verification as a matter of writing the policy. In other states, this is an optional verification, but most insurance companies will still require it, as having your verification saves them the risk of a large pay out to someone you have never even heard of. After all, it is the insurance company which stands to lose a great deal of money if such a policy if written and comes to claims.

Answered July 6, 2010 by Anonymous

Related Links

Free Insurance Comparison

Compare quotes from the top insurance companies and save!

secured lock Secured with SHA-256 Encryption