Getting life insurance policy on my mother. Do I tell her?

[Anonymous]

My stepdad recently died and had a very small life insurance policy through his job. My Mom has always been a SAHM and is now struggling with the idea that she will have to get a job and support herself for the first time in over 27 years.

Events surrounding my stepdad's passing lets me know that I will be the main person responsible for caring for my mother and arranging her final expenses when that time comes (hopefully that is no time soon as she is only 57).

Is it wrong to get a life insurance policy without her knowledge? I think she would be offended if I did this, but I just want to make sure that there will be no issues and/or stress when she passes.

[Anonymous]

Doubtful you can get life insurance on someone without their knowledge.

[Anonymous]

You can't take out a life insurance policy on another person without their knowledge. She'll have to sign on the dotted line....

[Anonymous]

You won't be able to get one without telling her, nor should you be able to do so.

[Anonymous]

Anonymous wrote:You can't take out a life insurance policy on another person without their knowledge. She'll have to sign on the dotted line....

Where do you get this information? What about people who get policies on their children (like the guy who killed his toddler son Prince recently)? Are they obligated to tell the other parent?

[Anonymous]

Anonymous wrote:

Anonymous wrote:You can't take out a life insurance policy on another person without their knowledge. She'll have to sign on the dotted line....

Where do you get this information? What about people who get policies on their children (like the guy who killed his toddler son Prince recently)? Are they obligated to tell the other parent?

Kids are different since they are minors and don't have the capacity to consent.

[Anonymous]

Doesnt the insured need to have a physical? I'm pretty sure they need to consent.

[Anonymous]

And also, YES, you tell her. Logistical issues aside. You say something to the effect of wanting to be able to responsibility handle any/all final arrangements, and also maybe something to the effect of not trying to make money off of her passing and/or looking forward to it.

[Anonymous]

I got a $10,000 policy on my husband through the term life offered at work. Never had to tell him. I only got it because it's cheap and would pay funeral expenses, etc.

[Anonymous]

If I found out that someone had taken out a life insurance policy on me without telling me I would wonder if they were planning on killing me.

Not really kidding . . . .

[Anonymous]

Anonymous wrote:My stepdad recently died and had a very small life insurance policy through his job. My Mom has always been a SAHM and is now struggling with the idea that she will have to get a job and support herself for the first time in over 27 years.

Events surrounding my stepdad's passing lets me know that I will be the main person responsible for caring for my mother and arranging her final expenses when that time comes (hopefully that is no time soon as she is only 57).

Is it wrong to get a life insurance policy without her knowledge? I think she would be offended if I did this, but I just want to make sure that there will be no issues and/or stress when she passes.

You cannot get it without her knowledge.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You can't take out a life insurance policy on another person without their knowledge. She'll have to sign on the dotted line....

Where do you get this information? What about people who get policies on their children (like the guy who killed his toddler son Prince recently)? Are they obligated to tell the other parent?

Kids are different since they are minors and don't have the capacity to consent.

Someone needed to tell you that...geez

[Anonymous]

PLus, you might want to consider a life insurance policy on you that gives her an annuity.

[Anonymous]

don't kill her right after taking the policy on her, that might trigger an investigation

[Anonymous]

Anonymous wrote:You can't take out a life insurance policy on another person without their knowledge. She'll have to sign on the dotted line....

You are wrong.

http://www.investopedia.com/terms/s/stranger-owned-life-insurance-stoli.asp


http://en.wikipedia.org/wiki/Corporate-owned_life_insurance_in_the_United_States


http://www.treasury.gov/resource-center/tax-policy/Documents/ChOLI-Report-4-2010.pdf