Can I take a children’s policy for my sister’s daughter without my sister’s knowledge? If so, which company offers it?
K Rajamani, Chennai
Buying a life insurance policy is guided by the principal of insurable interest. In your case, the children you wish to take the insurance for are not directly in your insurable interest, as you are not their parent. It is for this reason that a child plan can be taken only by parents and not anyone else. If you do wish to gift them a policy, seek your sister’s consent and pay her the money towards the policy premium.
