Life Insurance Fort Lauderdale Florida FL
Reader’s Question:
I have a friend in Fort Lauderdale Florida who also serves as a consultant and researcher for my writing career. If anything ever happened to her, I would not only lose a dear friend but a valuable consultant, and a big-time helper as well. Could I possibly buy an insurance policy on her?
Alfred
Berea, SC
Hello Alfred,
Life insurance companies in Fort Lauderdale Florida FL do provide riders for coverage for unrelated persons. Generally life insurance can be purchased for any person for whom you have an insurable interest. That is the most important criteria to think of when it comes to life insurance in Florida. You will want to meet with your life insurance agent to discuss this coverage and to gain an understanding of exactly what an insurable interest is.
Typically, life insurance policies establish that an insurable interest exists when the loss of one party would create a financial loss upon the secondary party. This definition varies between carriers and in differing states, but is the general standard for related or unrelated parties seeking coverage on another party.
It is quite common that partners, siblings, even parents represent an insurable interest for a secondary party. Again, your life insurance agent in Fort Lauderdale Florida FL will know his company’s policy as it applies to your friend and consultant. This stipulation can be added to either a whole life insurance or term life insurance policy.
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