[noelle777]

My son had a life insurance policy tken out without my signature for a million to my mother from my father. What do I do

[noelle777]

My son has a million life insurance policy taken out from my father without my signature to my mother if anything happens. Why would he do that and also what can I do. I never signed, it was ridiculos.

[ScottGem]

First, Your signature is not required. Anyone can insure another person's life without even their knowledge, though it is rare. As long as he pays the premiums you can do nothing.

Have you tried asking him about it?

[ebaines]

First, Your signature is not required. Anyone can insure another person's life without even their knowledge, though it is rare. As long as he pays the premiums you can do nothing.

I don't think is accurate. Most states employ the "insurabe interest doctrine," which says you can take out a life insurance policy on someone else only if you can demonstrate that you are dependent in some way on the person whose life is being insured. This may mean that you are literally a dependent, or that you are liable for the person's funeral expenses (that's often why parents take out insurance on their children), or the person owes you money. So for example I can not take out a life insurance policy on Lady Gaga. Unless the grandparents here are somehow financially involved with the child the policy may be invalid - again, depending on the rules of the state.

[twinkiedooter]

For a policy that large I'm shocked that a medical exam was not ordered and you knew nothing about this. Most reputable bigger insurers also do a telephone interview with the person being insured. I'd call up that company and ask them how did he do this without your knowledge? I don't think this is legal from what I know about the life insurance industry when I worked for an independent life insurance salesman who wrote very large policies. The bigger the policy I noticed the more hoops the person had to jump through in order to get a policy. What about your credit score and your son's credit score? What about your assets and your son's assets? They investigate this and much more to be sure your son is not taking out the policy in order to knock you off for the money.