Principal, LifeNet Insurance Solutions, Redmond, WA
Yes, if there is an insurable interest. In other words, will his/her passing impact your financial situation? In many divorces we see ex-spouses as the owner of the policy with the other former spouse as the insured. Obviously both the insured an the owner will both be aware of the other's role in this transaction. In many cases, insurance with this objective will be ordered by the divorce court, or part of the divorce settlement.
Yes, you can take a policy out on your ex-husband if certain conditions apply. First, your ex will have to sign as the insured so unfortunately you can't get a policy without him knowing. Second, if you depended on his income or alimony this can be approved. If you have children with your ex as the father, then life insurance can be taken out.
You will have a tough time getting a policy approved if it has been years since you have been married and if you don't stand to lose anything.
That is a great question! You can, assuming that two things can happen: First, your Ex needs to agree, and sign off on the policy. Without his signature, the answer is no, you cannot. The second is that you can prove to the insurance company that if he were to pass away, you would lose money. So if you had a clean break, no still shared bills, kids, etc., and y'all walked away free and clear, then the answer again is no. If he shares child custody/support, or you own property or shares of a business, etc., then the answer is yes, with his agreement, you can. If you need help sorting it out, please feel free to contact me, if I can help, I will. Thanks for asking!
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You will have a tough time getting a policy approved if it has been years since you have been married and if you don't stand to lose anything.
Reasons could be to satisfy a Court order. Or to make sure there would be money left behind for children you share, should one spouse pass away.
Now, both spouses have to agree to this, and sign off on the applications. But again YES, you can do it!!!