What is the name of your state (only U.S. law)? Oregon State
A single mother with two teenage children has learned that her ex-husband (divorced six years) has not complied to the divorce decree in which he was to maintain life insurance on himself and his children. The mother has insured the children through her employer and as the ex-husband (now age 50) is without life insurance, she has asked me if she can insure him without medical exam for $250K. She indicated that he had declined life insurance through his employer long ago and is no longer eligible to obtain it through the employer per long-tenured surrender of right.
I informed this woman that I thought she would have no insurable rights in regard to the ex-husband due to the legality of insuring someone you could potentially murder or have murdered. The two parties are not operating a business in which 'key man' insurance is of any factor.
The woman disagrees with me and believes that the legality of divorce decree in which underaged children are involved would allow her to have insurable right at placing life insurance on a former husband. She is Christian and is adamant that the divorce decree (being a legal document) should be complied with until expiration. As the ex-husband refuses to properly insure himself, she believes that she should be entitled to apply premium in his behalf.
I would appreciate anyone's thought on this (legal or otherwise).
Best regards,
Biker Bob
A single mother with two teenage children has learned that her ex-husband (divorced six years) has not complied to the divorce decree in which he was to maintain life insurance on himself and his children. The mother has insured the children through her employer and as the ex-husband (now age 50) is without life insurance, she has asked me if she can insure him without medical exam for $250K. She indicated that he had declined life insurance through his employer long ago and is no longer eligible to obtain it through the employer per long-tenured surrender of right.
I informed this woman that I thought she would have no insurable rights in regard to the ex-husband due to the legality of insuring someone you could potentially murder or have murdered. The two parties are not operating a business in which 'key man' insurance is of any factor.
The woman disagrees with me and believes that the legality of divorce decree in which underaged children are involved would allow her to have insurable right at placing life insurance on a former husband. She is Christian and is adamant that the divorce decree (being a legal document) should be complied with until expiration. As the ex-husband refuses to properly insure himself, she believes that she should be entitled to apply premium in his behalf.
I would appreciate anyone's thought on this (legal or otherwise).
Best regards,
Biker Bob