I have need of abet near a examine just about Life Insurance.?
I was wondering what the law say about a couple, where one have Life Insurance, if he or she can sign it over to the other without being married. I speak that they have to be married and my mother says that that you don't. So, which is it?
Are you signing over ownership or beneficiary?
You can change the beneficiary to anyone you want. The insurable interest with the sole purpose applies at the time of the application.
You don't "sign it over", you "mark a beneficiary". And if you own the policy, you can pretty much name anyone you want as beneficiary. Even me. Marriage has nought to do with it.
Mom is right.
"Sign it over"? The owner of a life insurance policy can designate whoever he/she chooses as beneficiary. Is that your request for information?
Benificiaries can be changed at any time to anyone.
Unless there is an irrevocable beneficiary designation (this is rare - except surrounded by Quebec). In that circumstance the beneficiary must agree to the change
Answers: If you're basically a couple, and not married, then no, the owner doesn't have to heading that significant other a beneficiary for any reason.
Some states used to have adjectives law marriages and certificate them in the law, but they don't do that anymore. However, within have been lawsuits won by significant others underneath the legal theory of quantum meruit, or "as much as is deserved".
But put simply, NO.