Life Insurance Policies on a Child’s Father: Buyer’s Guide

Even when parents don’t live in the same home, it’s important to have life insurance coverage to protect the future of the children. If one parent will not take the responsibility of getting a policy, the other may be able to take out a policy on them. You will need permission to take out life insurance policies on a child's father, which usually means a signature on the policy itself. Refer to our guide below to learn more about taking out life insurance policies on your baby’s father and compare rates for free.

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Natasha McLachlan is a writer who currently lives in Southern California. She is an alumna of California College of the Arts, where she obtained her B.A. in Writing and Literature. Her current work revolves around insurance guides and informational articles. She truly enjoys helping others learn more about everyday, practical matters through her work.

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Laura Walker graduated college with a BS in Criminal Justice with a minor in Political Science. She married her husband and began working in the family insurance business in 2005. She became a licensed agent and wrote P&C business focusing on personal lines insurance for 10 years. Laura serviced existing business and wrote new business. She now uses her insurance background to help educate...

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Reviewed by Laura Walker
Former Licensed Agent

UPDATED: Nov 6, 2020

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Life insurance is important for the future of a child, to make sure that life goals can be met without undue financial hardship. Even if the parents do not live in the same home, having life insurance policies to protect the interests of the child are important.

If one party will not take the responsibility of getting a policy, the other parent may be able to take out a policy on them. Choose the type of policy you need to fit your child’s needs, and shop for the best price available on the most coverage.

Finally, you will need permission to take out life insurance policies on a child’s father, which usually means a signature on the policy itself.

What is “Insurable Interest?”

Before the insurance company will allow someone to purchase a life insurance policy on someone else’s life, they need to know what the insurable interest is. In plain language, an insurable interest is how much financial dependence the beneficiary or the policy owner has toward the insured person.

Insurance by Consent

Before you can take out a policy on someone else, you have to get their permission. Regardless of the type of life insurance policy you are buying, the only person you can purchase a policy for without their express consent is a minor child, and that is because you, as the parent, have the right to give that child’s consent.

Choosing the Type of Coverage

There are two basic types of insurance: whole life insurance and term life insurance. A whole life policy will remain in effect for as long as the insured person survives and the premiums are up to date, while a term policy is effective for a specific number of years.

Medical Examination Required

In the case of most life insurance policies, the insured person will also have to submit to a medical examination and answer some questions regarding their health and medical history. This gives the insurance company the ability to set the rates on the policy to be commensurate with the risk involved. This information will determine, to a large degree, the base rate for your baby daddy’s life insurance policy. There are some policies that do not require a medical exam, but premiums would be higher.

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