My business partner has a life insurance policy on me. Di I have the right to view or access the records involved for obtaining this policy?

  • by Stephen M
  • Nov 19,2015
  • 9 answers

My business partner has a life insurance policy on me. Di I have the right to view or access the records involved for obtaining this policy?


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Insurance Answers (9)

Bill 6 months ago

No, why would you. He/She is just protecting his investment. Perhaps you should have one on him/her to protect your interest.

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Equality 7-2521 6 months ago

If he (and not the partnership itself) is the owner of the policy, then you cannot obtain any information on it.
These policies are typical for businesses (at least the ones that are smart); it will allow the surviving partner to buy the deceased partner's share of the business from his estate, so the surviving partner does not end up with a widow and her children as partners.
Not sure why what he has on you has any effect on you; if he is monkeying around with it he is only hurting himself. Were you to die and he didn't have that policy (or it wasn't large enough), your wife could then sell your share of the business to whomever she wants for any amount she wants, and your partner is stuck with that.

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Insurance Pickle.com 6 months ago

Happens all the time. But, if the partner is the owner, there is nothing you can do.

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mbrcatz 6 months ago

Only the policy OWNER has any right to view, access, or get any knowledge of this policy. If the policy owner is your business partner - then no, you have no rights to anything.

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Bob 6 months ago

Nope and you should take one out on him

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jmm2112 6 months ago

Only if you are the owner of the policy. Who or what OWNS the policies?

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Rinkydink 6 months ago

Don't you have a similar policy on him? It's not unusual for partners to
have life insurance on each other to cover the possible buy out after the death of one and to aid in the continuance of the business.

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Stephen M 6 months ago

I do have one, but we are in a contested business dispute and I need to be certain that the information on ownership matches on both policies. The policies are 6 years old so I am a touch fuzzy on all the details

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Casey Y 6 months ago

Only the owner of a policy has any control or rights. What type of policy did you guys setup? Was this a buy-sell? Did you use a reputable agent?
You can attempt to contact the agent or the company, but if you are not the owner, they may not be in a position to offer any assistance.
Why not demand copies of both policies? They are business assets.

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