Legal Question in Insurance Law in Virginia

Insurable Interest

Is it legal to buy a life insurance policy on a spouse without her knowledge or approval? H.R. 801, Veterans Survivor Benefits Improvements Act of 2001 authorized family coverage under Servicemembers' Group Life Insurance. The Army automatically included spouses, without the need for any signatures. If a servicemember did not want the family insurance, he or she must submit a form to cancel it. All without the knowledge or conesent of the spouse. How does consent relate to ''insurable interest?''


Asked on 4/24/02, 5:19 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Re: Insurable Interest

I can assure you that if in fact H.R. 801 was

passed by the Congress and is now federal law, a battery of lawyers have reviewed it to ensure its legality, including the provision that automatically provides insurance coverage for spouses without their specific consent.

Life insurance can be taken out on a particular person, thereby creating "an insurable interest"

in that person without the requirement that the

person must necessarily consent, unless the practice is specifically prohibited by law or the regulations of the insurance carrier providing the insurance.

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Answered on 4/25/02, 12:26 pm


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