Can I Get Life Insurance Without a Signature?

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Life insurance can be a very complex agreement between an insurance company and a customer. Policies contain multiple features that must be acknowledged and agreed upon by all parties involved in the solicitation, sale and implementation of the coverage.

Types

There are two main types of life insurance, and each type has several additional sub-categories within the main one. The two types of life insurance are Term insurance, which only lasts for a specified period of time and then expires, and Permanent insurance, which is designed to last forever.

Features

Life insurance is designed to provide a pre-determined sum of money to an insured person’s family in the event of an untimely death.

Identification

Life insurance companies must be able to accurately and promptly identify all parties involved in a life insurance transaction, including the owner, the insured person and the beneficiaries.

Considerations

Since a life insurance policy is a legally binding agreement between the owner, the insured and the insurance carrier, it is necessary for everyone involved to authorize and agree to the terms of the contract by affixing their signature to the policy documents.

Warning

There are severe penalties for everyone involved if another person signs a legal document with a name other than their own. This is considered fraud and carries extremely hefty fines and criminal charges.

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