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Can a policy owner borrow against a life policy without the…

Can a policy owner...

Can a policy owner borrow against a life policy without the signature of an irrevocable beneficiary

Lawyer's Assistant: Estate laws vary by state. What state are you in?

Indiana

Lawyer's Assistant: What documents or supporting evidence do you have?

Policy company reports that cash value is borroewed

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Answered in 2 minutes by:
11/9/2017
INFOLAWYER
INFOLAWYER, Attorney
Category: Legal
Satisfied Customers: 59,653
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Absolutely. Beneficiary has to claim or say in the policy until owner dies. Until then owner may borrow, cancel, change terms as owner wishes.Would you kindly rate me five stars - that is the only way I get credit by the website. Thank you!
INFOLAWYER
INFOLAWYER, Attorney
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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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