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  1. #1
    sat147 is offline Junior Member
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    Can I take out life insurance on my ex-husband?

    Hi. I live in PA. I want to know if I can take out a life insurance policy on my ex-husband. We have a 3 year old son together. I receive $530 a month in child support. I am pretty sure my ex doesn't have any life insurance and even if he does I don't know if he would allocate any money towards our son. I want to know if I can take out a life insurance policy on him so I know I will still have money to help raise my son if my ex were to pass away.

    As far as I know my ex is healthy. He is 38 years old and is a non-smoker. He doesn't have any health conditions that I am aware of. I don't know if he would have to sign off on paperwork if I wanted to open a policy. If he has to, I don't know whether or not he would. I don't know what difference it would make to him since I would be paying for the policy. Please help me get some answers!!!

    Thanks,
    Susan
  2. #2
    moburkes is offline Senior Member
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    Quote Originally Posted by sat147 View Post
    Hi. I live in PA. I want to know if I can take out a life insurance policy on my ex-husband. We have a 3 year old son together. I receive $530 a month in child support. I am pretty sure my ex doesn't have any life insurance and even if he does I don't know if he would allocate any money towards our son. I want to know if I can take out a life insurance policy on him so I know I will still have money to help raise my son if my ex were to pass away.

    As far as I know my ex is healthy. He is 38 years old and is a non-smoker. He doesn't have any health conditions that I am aware of. I don't know if he would have to sign off on paperwork if I wanted to open a policy. If he has to, I don't know whether or not he would. I don't know what difference it would make to him since I would be paying for the policy. Please help me get some answers!!!

    Thanks,
    Susan
    As long as he agrees to it, then yes.
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  3. #3
    justalayman is offline Senior Member
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    Mo, I have to ask.


    Since the OP has an insurable interest (the common child and the costs the father is expected to pay) why would OP need the consent to purchase life insurance on the ex?
  4. #4
    moburkes is offline Senior Member
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    Quote Originally Posted by justalayman View Post
    Mo, I have to ask.


    Since the OP has an insurable interest (the common child and the costs the father is expected to pay) why would OP need the consent to purchase life insurance on the ex?
    You ALWAYS need the insured's permission, unless the insured is under 16.
    edit: Many companies wouldn't consider her to have an insurable interest, since they are no longer married, AND since the insurance company doesn't know (for a fact) that he's the father of her child. In many cases, he would have to be the original owner of the policy, but can then transfer ownership immediately after the policy is issued.
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  5. #5
    Betty is offline Senior Member
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    Mo is correct - when doing life underwriting, we would never accept an application on an adult w/o their consent. They need to sign the app. agreeing to the ins. & might possibly also have to take a medical exam, etc. for the ins.
  6. #6
    InFlorida is offline Junior Member
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    I have the opposite issue. I have been divorced for 18 months. I couldn't afford my life insurance premiums when we first divorced so I signed it over to him to pay. Now, I can afford the premiums and the ex is getting remarried. I am just not comfortable with them having a life insurance policy out on me. Yet, he won't sign it back over to me.
    My insurance company says there is nothing I can do.
    Is this correct? My ex can have the policy even if I no longer agree for him to have it?
  7. #7
    moburkes is offline Senior Member
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    Quote Originally Posted by InFlorida View Post
    I have the opposite issue. I have been divorced for 18 months. I couldn't afford my life insurance premiums when we first divorced so I signed it over to him to pay. Now, I can afford the premiums and the ex is getting remarried. I am just not comfortable with them having a life insurance policy out on me. Yet, he won't sign it back over to me.
    My insurance company says there is nothing I can do.
    Is this correct? My ex can have the policy even if I no longer agree for him to have it?
    You really should start your own thread with your question, but, no, there is nothing that you can do. It was always the possibility that he could get remarried. I have no idea what you expect your ex to do, simply because he's paying for your life insurance, that he could not have done before he decided to get remarried.

    If you have additional questions, please start your own thread.
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  8. #8
    Zigner is offline Senior Member
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    To the OP:
    If it will make it easier for your ex to agree - perhaps you can have your child be the owner of the policy? Just a thought.
  9. #9
    moburkes is offline Senior Member
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    Quote Originally Posted by Zigner View Post
    To the OP:
    If it will make it easier for your ex to agree - perhaps you can have your child be the owner of the policy? Just a thought.
    Nope. Child is 3. Won't happen.
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  10. #10
    TinkerBelleLuvr is offline Senior Member
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    Probably the purpose of the life insurance policy is to replace child support if the other parent were deceased. Putting it in the name of the child would defeat this purpose since the money is to help mom raise the child.
  11. #11
    ecmst12 is offline Senior Member
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    Why not at least make the child the beneficiary?
  12. #12
    nextwife is offline Senior Member
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    IMHO, you should EACH take out life policies against each other. After all, if you died, he'd become the CP - and be just as needy of the financial help you are looking to the life policy for.
  13. #13
    moburkes is offline Senior Member
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    Quote Originally Posted by ecmst12 View Post
    Why not at least make the child the beneficiary?
    While that's an option, making the child the bene won't help mom should dad die before the child is of age.
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    Originally Posted by arazi
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  14. #14
    sat147 is offline Junior Member
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    Thanks to everybody for their responses. I don't have a problem bringing it up to him and asking him to sign paperwork. If he wants to take out life insurance on me I would sign the paperwork.

    I do have my own life insurance with my son as the beneficiary in case something happens to me so my son would be taken care of. Of course I don't want all of that money to just go right over to my son's father for him to spend anyway he wants. I want the money to be spent on my son and the amount is enough that there should be plenty money to set aside for his college.

    Hopefully I won't ever need this and neither will my son or my ex but I figure it is better to be safe than sorry.
  15. #15
    moburkes is offline Senior Member
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    Quote Originally Posted by sat147 View Post
    Thanks to everybody for their responses. I don't have a problem bringing it up to him and asking him to sign paperwork. If he wants to take out life insurance on me I would sign the paperwork.

    I do have my own life insurance with my son as the beneficiary in case something happens to me so my son would be taken care of. Of course I don't want all of that money to just go right over to my son's father for him to spend anyway he wants. I want the money to be spent on my son and the amount is enough that there should be plenty money to set aside for his college.

    Hopefully I won't ever need this and neither will my son or my ex but I figure it is better to be safe than sorry.
    Your son won't be taken care of, if he is the beneficiary. It will be put up for him when he is 18. It won't be used to pay for some of his expenses.
    My new signature:
    Originally Posted by arazi
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