Expert Q&A
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Email to a FriendWhat are the guidelines for domestic partners to get life insurance coverage?
How does a domestic partner get life insurance and what are the best insurance companies to consider? thank you
The type of relationship doesn’t matter. What’s important is
that there has to be what’s known as an insurable interest. You cannot take out
a life insurance policy and be the beneficiary on someone who you have no
financial ties to. For instance, taking out a policy on your neighbor down the
street whom you barely know isn’t allowed. But, if that neighbor was, say a
business partner, then it would be. So as long as you can prove financial
dependence, you take out a life insurance policy.
Exactly, that has been stated already. An indepenedent insurance Agent can help with the best benefit program, and all the paperwork.
Good question. I don’t know about the rest of the companies out there, but I am sure that some companies like the one I represent treats partners as if they were spouses.
