Life Insurance for my 6yr Old Niece

Nov 17, 2015

  1. mmdz33018
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    mmdz33018 Expert

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    Hi,

    I was wondering if there is any way that I can buy a life insurance policy for my 6 year old niece. I am not her legal guardian and I do not want to get her parents involved. I am not looking to benefit from it. It would be for around 15,000 and I would name the mother who is my sister as the beneficiary. Is this possible?
     
  2. FEX Quotes
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    Yes, this is not a problem. It's really not much different than a grandparent purchasing a policy on a grandchild which is much more common than what you are wanting to do.
     
  3. Newby
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    What companies will allow an aunt to buy a policy on a niece without a parent's permission?
     
    Newby, Nov 17, 2015
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  4. FEX Quotes
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    Perhaps I didn't read the question carefully. My initial interpretation of the word "involved" didn't mean permission, but rather paying the premium.
     
  5. UW Guy
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    UW Guy Super Genius

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    Carriers aren't as concered with who the payer is so if the parent (s) are the owner and beneficiaries and the amount doesn't out kick their coverage too far (unless this in WA or NY) not likely to be too much of a problem.
     
    UW Guy, Nov 18, 2015
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  6. Newby
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    I took "does not want the parents involved" to mean signing anything, answering health questions or possibly even knowing of the policy.

    Funeral PreNeed is the only way I know of to do that.
     
    Newby, Nov 18, 2015
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  7. GoPokes
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    Do you know if the MOO children's whole life plan would allow it? The app just asks for the relationship to the insured, but I cant find anywhere where it says it has to be parent or grandparent only.
     
    GoPokes, Nov 18, 2015
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  8. Newby
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    I don't know about that one. Could be a possibility.
    Ben Boman writes a lot of that. He may be pretty familiar with it. Or a call to Mutual Omaha would clear it up.
     
    Newby, Nov 18, 2015
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  9. WinoBlues
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    That was my thinking. They do not ask the child's SSN either so they do not need to know that.
     
  10. BNTRS
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    How exactly do they go about verifying identity in the event of a claim?
     
    BNTRS, Nov 19, 2015
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