MarketWatch
US · 4 hrs ago
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I am 56, single and renewing my $400,000 term life policy. The agent says I can’t name my brother as beneficiary. Why not?
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A 56-year-old single person asks why their insurance agent refuses to name their brother as a beneficiary on a $400,000 term life policy, citing lack of insurable interest due to the brother's financial independence.
I am 56, single and renewing my $400,000 term life policy. The agent says I can’t name my brother as beneficiary. Why not?
“The agent said he could not add my brother because he does not depend on my income, so has no insurable interest.”
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