Should a spouse be able to take out a life insurance policy on their spouse with

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   Faith Reaperposted 9 years ago

   Should a spouse be able to take out a life insurance policy on their spouse without their knowledge?
   
   In light of the Colorado man who allegedly pushed his wealthy wife off a cliff, and who is also now being looked at for his first wife's murder after a car fell on her ...being he had taken out multi-million-dollar life insurance policies on both wives without their knowledge, do you think the life insurance companies should require that the spouse be notified when their spouse takes out a life insurance policy on them?  He took out a 4.5 million dollar life insurance policy on his most recent wife.  Photo courtesy of Flickr. Gives one pause as to "Until death do us part."
   
   

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   Jackie Lynnleyposted 9 years ago

   No; I don't think so. The reason for insurance is to replace the lose and unless she was making all sorts of money that he depended on then what was the point except to gain from her death?
   I would think insurance companies would turn suspicious policies like this over to be investigated. Really it just should not be allowed. I mean if a person like him is not planning murder then they are wishing the other person a short life at best!

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      Faith Reaperposted 9 years agoin reply to this

      That is my thinking too ...and I did not realize one could take out a life insurance policy without the other knowing, which is suspicious to me!  I would think that would raise a big red flag with the insurance companies. They should be notified.

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      Jackie Lynnleyposted 9 years agoin reply to this

      No kidding! If someone took that kind of insurance on me you can be sure I wouldn't have them behind me ever again! I'm not sure an insurance company shouldn't be held responsible too! You know after they collect the fees they are not going to honor!

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      Faith Reaperposted 9 years agoin reply to this

      Yes, have to sleep with one eye open as they say!  For sure, about the insurance companies.  Seems there should be a law to address this for all concerned.  Only makes sense to me, otherwise ...

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   bravewarriorposted 9 years ago

   I would think the insurance companies would require a signature on the docs by the spouse as acknowledgement and agreement. As picky as they are when we take them out on ourselves (health exam, etc.), why would they allow a policy to be taken out on someone else without proof of consent? It makes no sense to me.

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      Jackie Lynnleyposted 9 years agoin reply to this

      I really think they are suspicious; why wouldn't they be? But they get that money monthly regardless (which has to be a good sum on that much!) and that is just how greedy they are.  Murder just means they got money for nothing.

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      Faith Reaperposted 9 years agoin reply to this

      Hi Shauna, yes, one would think, but I've seen many cases that isn't the case.  It certainly does not make any sense to me either.  Boy, are they ever picky on our health insurance for sure.  Guess, you can take out one on anyone, spouse or not.

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   supremeupbeat kposted 9 years ago

   I think the spouse must be informed about the insurance because of affordability and easeness of processing after accident or absence of the other.

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      Faith Reaperposted 9 years agoin reply to this

      Thank you, Mahadeb Kar, I do hope that is the case, but I believe it is not.  I know one can take out insurance on other family without their knowledge, like children and grandchildren too.

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   Genna Eastposted 9 years ago

   I agree and I certainly think that the spouse should, at minimum, be informed about the policy, without exception -- especially ones this large.  I understand that this fellow had taken a few life policies on this wife, and that they had been married for 12 years and had a child together.   This man is beneath despicable, Faith.  He actually put an X on the hiking map to mark the spot where she accidentally "fell" while taking a photograph before they began their hike.  But I'm curious about how investigators discovered his wife had no knowledge of the policies?

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      Faith Reaperposted 9 years agoin reply to this

      Hi Genna, he certainly is and investigators are saying he researched several wealthy women before "choosing" her to marry. He also said he tried mouth-to-mouth, but her lipstick was not disturbed. I wondered too how they knew she had no knowledge.

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   fpherj48posted 9 years ago

   If I understand the "rules" (laws) regarding life insurance policies......In general, most everywhere, it is "illegal" for an Insurance Company to sell a policy to anyone who cannot prove that they stand to suffer a "loss" by the insured's death.  That's easy enough to understand, but to elaborate:
   
   Simple common sense/logic confirms that a married couple will suffer a loss upon the death of the other.  Another acceptable situation may be business partners, a Company's key employees and/or individuals who share ownership of assets..eg. an unmarried couple who own a home jointly.
   
   In all of these cases mentioned, the "insured" as well as the policy owner SHOULD be aware of these policies and usually are.  So, unless an Insurance Co. or it's agents are not ethical or they are simply lax....they should be certain all parties are in fact aware of any policy on their life and who the owner is.
   
   I seriously doubt anyone can attempt to buy a Life Ins. Policy on the guy down the street, with no valid reason nor explanation as to how or why they would suffer a LOSS by his death. 
   
   So folks......If you happen to HATE your neighbor and intend to bomb his home.....it will do you NO good to buy a policy on his life before the dastardly deed!
     In the case of this "loving" husband, it's anyone's guess what his true motive was....??  Most married couples have policies on one another.   This guy sounds a bit spooky.!!

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      Faith Reaperposted 9 years agoin reply to this

      Thank you so much, Paula, for the great answer. Yes, most all couples do have life insurance on each other; no question there. But wonder about the million dollar policies, although this woman was wealthy. LOL on the neighbors. Yes, he is spooky!

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