can I buy life insurance and name my girlfriend as beneficiary even if I'm married?

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  • can I buy life insurance and name my girlfriend as beneficiary even if I'm married?


Answer #1 | 23/12 2013 04:00
yes you can
Positive: 30 %
Answer #2 | 23/12 2013 04:01
yes. and you can leave stuff in your will to anyone too.
Positive: 24 %
Answer #3 | 23/12 2013 04:15
Yes.; You can name anybody, even a complete stranger.
Positive: 4 %
Answer #4 | 23/12 2013 06:55
Yes you can. You might need to show some insurable interest at the inception of the policy, but you should be able to pull it off. I've had this happen before actually, the exact same situation and it went smoothly. Well, other than dealing with the widow...
Positive: 10 %
Answer #5 | 23/12 2013 08:17
but when your wife finds out you are a dead man. (if not physically, financially)
Positive: 10 %
Answer #6 | 23/12 2013 09:31
For someone to benefit under an insurance policy they have to have what is called an "insurable interest". This means you have to show a genuine need for the insurance. Spouses are automatically deemed to have an insurable interest in each other as either would be disadvantaged should the other die. Business partners also have an insurable interest in each other. You can't just insure any random person. The people that have said you can are wrong. The insurance company would want to know about the exact nature of the relationship between you and your girlfriend. It's likely your wife would be able to lay claim to any insurance cover on your life, especially if you have kids. Ask your wife how she feels about the money going out each month for this policy. Then you'll need more cover.
Positive: 10 %
Answer #7 | 23/12 2013 10:18
Also, some states will require a spouse to sign off on life insurance that does not name him/her as the primary beneficiary. Talk to your insurance agent and give him/her the exact details of the arrangement to make sure any policy is structured to get the money where you want it to go.
Positive: 10 %
Answer #8 | 23/12 2013 15:41
Yes, although in a couple of states, you'd need your wife to sign off permission.
Positive: 10 %
Answer #9 | 14/02 2014 01:16
Yes. you can do that bro. But if you had already taken life insurance earlier; I would suggest informing the latter of the same.
Positive: 10 %

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