Don't of any company in TN (CA may be different) that would allow an aunt to buy insurance on her niece or nephew without the parent's signature. If the parent will sign as applicant, you could make the aunt the owner and premium payer.
Child Policies
- Thread starter TDFnCali
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Don't of any company in TN (CA may be different) that would allow an aunt to buy insurance on her niece or nephew without the parent's signature. If the parent will sign as applicant, you could make the aunt the owner and premium payer.
- 26,170
$25,000.00 @ $24.mo Paid Up at age 13. Includes $12,500.00 of accelerated death benefit at no extra cost. True A rating.
Of course assuming insurable interest and guardian's signature. Should not be a problem.
Of course assuming insurable interest and guardian's signature. Should not be a problem.
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I would if it were my sister...
- 26,170
What cash values? Maybe $2,000 in 20 years.
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The aunt or uncle can be the apyer, they just can't be the owner.
As long as the parents will sign on as the owner then there is no problem about the payer.
But you are correct that the owner's would have full access to the policy and the payer wouldn't.
Still doable though.
- 26,170
Is that an RNA thing? I have done it several times.
Why can't they be the owner if the parent signs as the applicant agreeing to the aunt being the owner?
- 26,170
Sorry, the company is Cincinatti Life and I rounded up the premium, it is really $23. and change.
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Certain communities Aunts and Godmothers are very close to the children. Not that unusual for them to write small policies.
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