A friend of mine recommended buying whole life insurance for my child. He said it was better than investing elsewhere. For example, you can get a 1 million dollar insurance which will be paid up by ...
I called my insurance agent and told him I was afraid to drive my vehicle because it was stolen by some gangsters and they were caught and he told me to get a gun and get me some gangsters to ...
Will I have an option of them just mailing the bill and then making payments. I have no insurance, yet, in the process. I'm 21 years old and need to go to the doctor for anxiety problems? I live ...
I work for a mortgage company in Southest Louisiana. A custome of mine got an insurance quote from some company online. They quoted $1400/year for a house that costs $190,000. I closed on a house 3 ...
I am searching for a new policy because my insurance company is useless when I have needed them most. Additional Details I live in Las Vegas, NV. The current company Virginia Surety C...
im married, age 27 and interested in buying life insurance for me and hubby.
for just myself how much would my monthly be approx? im healthy dont smoke and dont want to pay too much money.... ...
My husbands health insurance changed its deductible from 1,000 to 2,200. His employer said they couldn't afford the increase in rates and the insurance technically ran out 2/1 but the insurance ...
I am a self employed person so I don't have medical benefits like you would if you work for a company. I am paying well over $600 a month for medical insurance coverage as a business owner. Does ...
I need to take my husband to Urgent Care this morning....he has had a leg injury that is unexplained, and back of calf has turned yellow. I am fearing a blood clot. I am in transistion of ...
Entrepreneur
Can you claim life insurance of someone you are not related to?
I have a friend very old and she has a big life insurance policy currently I am helping her live and I am am paying for all her expenses. She has listed me as the claimer on the insurance when she dies. Can I claim it? Also I wanted to do this with 5-10 other people out there. Can this work?
You can only claim it if you are the named beneficiary. You must be really close to your friend if she named you as a beneficiary. People usually list family or their spouse as beneficiary.
oil field trash
Any one can be named the beneficiary of a life insurance policy.
The question about the 5-10 other people is not clear.
Heather
if ur the beneficiary on the policy if not the no
woodsygirl
You can claim it (when she dies of natural causes) if you are listed as a beneficiary.
Why are you paying for her expenses? The life insurance policy has value. Not "cash value" but monetary value. The insurance companies don't like for people to know this. They would rather have you drop your payments and forfeit any claims. Some states (like Colorado) just passed a law requiring agents to disclose this option to their clients. I haven't seen it happen yet, but the law is new, and a lot of agents aren't even aware of the law's existence.
Anyway, it works similar to a reverse mortgage, if she were to decide to sell it. The policy is an assignable life asset.
It may be an option she would want to consider to releive you of the burden of her living expenses.
The Lone Gunman
yes, you can.
Fatty
the insured can name anyone as beneficary once the policy is issued, there has to be an insurable interest at time of application i.e. a relationship-either family or business...
Madison
If the insured names you as a beneficiary your relation to the insured is irrelevant. You can claim the death benefit with only one exception. You can not be the one who intentionally caused the death of the insured.
But you can not just insure anyone yourself and then claim the death benefit on the policy. You must have an insurable interest. This usually means you must be related to the insured to insure that person or you must have some type of business or financial interest in his continued life to be eligible to insure him or her and to then claim the death benefit. One last thing since you said you want to do this with other people you should know that if you take advantage of older people (over 65) causing them to do something people don't naturally do like cutting out their family and putting you in as a beneficiary on their life insurance policy you may be committing what is called elder abuse which is a crime.
svillarealjr
Only if you are a part of a living trust or on the will of the deceased.
Homepage 
Financial
Forum 
Insurance 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
