If have a terminal illness, am I legally able to let people insure my life for a monetary sum?

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If have a terminal illness, am I legally able to let people insure my life for a monetary sum?

Asked on June 26, 2012 under Insurance Law, Florida

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If you are terminally ill, you can allow a third party to place life insurance upon your life. You would have to have a physical examination and sign paper work allowing a third person to insure your life placed with a carrier.

From a practical point of view, the chances of getting life insurance on your life when you are diagnosed as terminally ill by a treating physician for a reasonable premium is remote. 


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