Can you take out life insurance on someone without their permission? Do you need their social security number to do so?
by 
Morg the Army wife
ANSWERS: 6
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The answer to your first question is "Yes". In fact, many companies have done this to their employees WITHOUT the employees' knowledge.... http://www.npr.org/templates/story/story.php?storyId=1143095 Given the ubiquity of the Social Security Number in financial matters, I would assume that it would be needed to purchase a policy.
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You are scaring me! Legally you are not allowed to take out life insurance on someone's life without their permission. Of course like all things, stuff happens. But the law says no.
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I do not believe you are able to take out life insurance on someone without their permission. Also, many time a physical exam is required, so the insured person would need to take a physical. Also, I believe they have to sign the application form, as well. There is usually required an "Insurable Interest", meaning there must be an insurable interest between the insured person and the person who owns the life insurance policy.
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The above posted answer wasn't correct. You need permission from the individual who you want to take a policy on, and when he or she dies- the insurance company will thoughly investigate you. If you're not a relation they might not pay at all and then all your money will be a total waste.
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I FOUND OUT MY SISTER HAS LIFE INSURANCE OUT ON MY KIDS AND I DIDN'T GIVE PERMISSION, THE LIFE INSURANCE COMPANY SAID THERE WAS NOTHING I CAN DO.
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Yes you can, AND usually yes. There is a stipulation though. You cannot just take out a policy on anyone you chose. It has to be someone (husband/wife/life partner/parent/child) that you can show affects your life financially. So if you're the person in charge of settling a parent's estate when they die, you can take one out on them. If you're the one responsible for burrying a child if they die, you can take one out on them. If your spouse brings anything at all to the table, even a house wife has a job, you can take one out on them. You need to be able to show how the person's death will affect you financially and the pay off amount has to be somewhat in line with the amount you'll be losing in the event of their death. For instance, to hire someone to do a housewife's job would probably cost around $80,000.00 a year, or a 1.5 million dollar policy on a 12 year old child would certainly look suspicious. Of course, if you are the "owner" of the policy and that person's death is the least bit suspicious, you'll be under scrutiny. Get it?
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