Life Insurance FAQ's

Showing Tag: " life insurance on me" (Show all posts)

Can My Employer Take Out Life Insurance On Me?

Posted by hadley hadley on Tuesday, February 11, 2014, In : Life Insurance FAQ's 

Corporate owned life insurance (COLI) policies have been used for many years, but it's purpose has changed over the years.

It began as a way to provide necessary money to a business when a key employee died. The death benefit allows the employer to recoup some of the loss of earnings incurred when a productive employee dies, and provides money for recruiting and training a replacement.  

For many years, it was a common practice for an employer to take out life insurance on a...


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Who Can Take Out A Life Insurance Policy On Me?

Posted by hadley hadley on Friday, August 2, 2013, In : Life Insurance FAQ's 

For someone to take out a life insurance policy on you, they must have an insurable interest in you.

Insurable interest means the other person who wants to insure you for life insurance stands to lose financially if you were to die. The other person relies on you for some means of financial support.

For example, if you passed away, it would cause them financial harm.

Also, you must give the other person them permission to take out the life insurance policy on you by signing the...


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