Would Be Owner Wants It, Would Be Insured Doesn't

[papercutter]

I have a client who wants to buy a policy on his wife, so he would be the policy owner and would make the monthly premium payments. However, he doesn't want to get his wife involved because according to him, she doesn't like life insurance and she especially doesn't like life insurance agents!

Any ideas on how to proceed with this? Thanks.

 

[WinoBlues]

I have a client who wants to buy a policy on his wife, so he would be the policy owner and would make the monthly premium payments. However, he doesn't want to get his wife involved because according to him, she doesn't like life insurance and she especially doesn't like life insurance agents!

Any ideas on how to proceed with this? Thanks.

Preneed.

Fact check this with Newby, That is where I learned it.
......................

 

[Newby]

Yep! Preneed works well for unwilling spouses.

 

[WinoBlues]

Yep! Preneed works well for unwilling spouses.

Had to edit mine.

 

[papercutter]

Yep! Preneed works well for unwilling spouses.

Thanks, I will suggest that to him.

 

[rousemark]

I have a client who wants to buy a policy on his wife, so he would be the policy owner and would make the monthly premium payments. However, he doesn't want to get his wife involved because according to him, she doesn't like life insurance and she especially doesn't like life insurance agents!

Any ideas on how to proceed with this? Thanks.

Did you ever think there might be a good reason she doesn't want him to own life insurance on her life? Possibly the same reason he wants to buy it.

 

[Jerard]

Did you ever think there might be a good reason she doesn't want him to own life insurance on her life? Possibly the same reason he wants to buy it.

Yup. I'm sure we all have had people ask us: "Can I take out a policy on my ex and him/her not know about it?"

 

[rousemark]

Yup. I'm sure we all have had people ask us: "Can I take out a policy on my ex and him/her not know about it?"

You mean, "I just bought some arsenic. Can I take out a policy on my spouse and him/her not know about it?"

 

[Jerard]

You mean, "I just bought some arsenic. Can I take out a policy on my spouse and him/her not know about it?"

Exactly.........

 

[Newby]

Yup. I'm sure we all have had people ask us: "Can I take out a policy on my ex and him/her not know about it?"

I had Avery nice case that started off by a woman asking if she could take out $100,000 on her ex husband without his knowledge. She was dead serious.

I sold her a $150,000 GUL on him and he took another $150,000 on himself. Had to get him onboard of course.

She got half his pension which would end on his death. Had kids together so she had a good reason.