life insurance on a minor

[codydedman]

What is the name of your state (only U.S. law)? Ky. I just found out that a male family friend took out a large amt of life ins. on my 12 yr old Granddaughter. His agent is a lady he is dating. Is this legal to do without the child's or parent's consent? If so, does it make a difference that this 24 yr old man is the County Clerk who searched for her social security # on papers filed at the court house? The other reason I'm so disgusted & upset by this is that this same person (who is no longer a family friend) also molested her! Regretfully, when confronting him with this, he admitted, but we did not have it recorded. My daughter and I want to make sure we know the laws before we take action. Thanks for any help you can give us.

 

[anteater]

Besides consent, there is the concept of insurable interest. A friend would not normally have an insurable interest in the life of your granddaughter. Therefore, there may be fraud on that front, also.

http://law.justia.com/codes/kentucky/2006/304-14/040.html

Contact:

1) the life insurance company, not the agent
2) the Kentucky Department of Insurance

http://insurance.ky.gov/

3) if you are certain of your facts, the ex-friend's employer

I assume that the molestation is being investigated/prosecuted?

 

[Betty]

I was a life ins. underwriter & we never would have approved an application on a child w/o the parent's consent + here there is also no insurable interest. It seems the friend and agent both apparently committed fraud in order to get it approved & issued.

Do as anteater suggested.

 

[codydedman]

life ins on a minor

Hi, Thank you so much for the information. It was a big help. Where would I report this to get it changed? I do appreciate any help you can give us. Thanks

 

[codydedman]

minor life ins

Hi, I just the advice from anteater after i posted my first reply. I saw where you answered my question as where to report this to get it changed. That was a big help. Thank you very much

 

[Betty]

You're welcome. This definitely sounds like fraud from what you posted.