Life insurance can be confusing, especially knowing who you can take a policy out on and who you cannot. There are a wide range of rules when it comes to taking out a policy on someone and knowing where you stand is important. For those in the Tucson, AZ area, the agents with Shaner Insurance Group Inc. can help you answer all your questions.
You can take an insurance policy out on your children that are under the age of 18 without having to worry about consent since you are their legal guardian. You cannot take a policy out on someone that is over the age of 18 without their consent unless you are their legal guardian. This means that if you are the guardian of someone that is over the age of 18 and they cannot make legal decisions for themselves, you can take a policy out on them.
In general, you need to make sure that anyone you take a life insurance policy on is aware of it and that they consent and sign all the necessary paperwork to make the contract legal and binding. It is important that if you want a policy to pay out that you take the time to get the necessary documentation and paperwork so that the claim will not be denied and so that it will pay out.
It is always best to make sure you have the necessary paperwork so that claims will not be rejected. If you live in or around the Tucson, AZ area and have questions about who you can take a policy out on, contact the agents with Shaner Insurance Group Inc. to find out more. Life insurance does not have to be difficult if you have the right agency on your side.