If a person has an insurable interest in a preneed purchaser, does the preneed purchaser need to give consent on the life insurance application?
A. Yes, unless there is an exception to the consent requirement. The only exceptions to the consent requirement are where a power of attorney has been executed, there is a legal guardianship or the person is a spouse of the preneed purchaser. A minor child does not need to give consent if the parent of the minor child is purchasing the life insurance on the minor child.
Related Questions
- If a person has an insurable interest in a preneed purchaser, does the preneed purchaser need to give consent on the life insurance application?
- Does a certificate holder have an insurable interest in the life of the preneed purchaser?
- Does a trust have an insurable interest in the life of the preneed purchaser?
