Q: Can I keep a life ins policy on my ex wife if she says i cannot?
I have had the policy since we were first married 23 years ago and want to keep it as one of the children is special needs and she got the house and I signed a quit claim deed.
The policy would go a long way towards paying the mortgage down in she passed.
A: Generally speaking, you do not need consent to have a life insurance policy on a person provided that you solely pay for premium (it is theoretically possible to take out a policy on a total stranger that you have never met). Be aware that if you sign a separation agreement that agrees to not pursue a policy, then you arguably cannot have the policy. It is also possible that your soon to be ex may want the policy to be cashed out.
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