Anyone can be insured (unless there are uninsurable health related issues)... as long as insuring company is not aware. :)
Can Mistresses, Jueteng lords, Politicos & Smugglers be insured?
In past columns you’ve tackled why mistresses cannot be life insurance beneficiaries, but can they be insured with their boyfriend as payer? What about people in illegal professions like jueteng lords or smugglers, can they buy life insurance, too? Is it true that politicians also cannot get life insurance? Can you ask Insular Life to give us a list of various professions that they do not like to insure and why?
Valerie Roberto, 28 years old, Parañaque City
Answer
I believe that, just like other people, mistresses can be allowed to secure life insurance for themselves subject only to the risk evaluation and underwriting requirements of the life insurance companies. Their health, occupation, lifestyle and other particular circumstances will be major factors in the assessment of risk, if any. For that matter, politicians may be insured also, as in fact many of them are, but again subject to the same risk evaluation and underwriting requirements. On the other hand, life insurance applications from persons engaged in illegal activities like jueteng lords and smugglers will most likely be declined on account of the higher risk of their activities.
Due to the varying risks brought about by different individual circumstances, we cannot provide you with a list of professions or activities that are insurable or not insurable. Each of these is individually evaluated and cases not considered standard may still be covered subject only to applicable underwriting ratings or other conditions commensurate to the risk involved. Of course, those applications from persons who are really exposed to unacceptable risks are either deferred or declined as may be applicable.
In relation to your first question, you were also asking if mistresses can be insured with their boyfriend as payer or policyholder. In reply, I think that generally, no insurance policies are issued in cases where there is only a “boyfriend-girlfriend” relationship between the insurance applicant and the proposed insured, unless the presence of “insurable interest” can be established on the part of the boyfriend on the life of the said mistress. This means that we have to find out if, in the existing relationship of the parties, there is reasonable expectation that the boyfriend will derive pecuniary or financial benefit or advantage on the continuance of the life of the mistress or if the said boyfriend would suffer pecuniary or financial loss or damage on account of her death or injury. The interest must therefore be in favor of the continued life of the proposed insured and not in its loss or destruction. Otherwise, any insurance that may be issued in the absence of such “insurable interest” would render that insurance void since it would constitute as wagering on the life of the proposed insured. The Insurance Code, in its Section 10, enumerates the situations where there is insurable interest that would allow insurance coverage, as follows:
“Section 10. Every person has insurable interest in the life and health:
1) Of himself, of his spouse and his children;
2) Of any person on whom he depends wholly or in part for education or support, or in whom he has a pecuniary interest;
3) Of any person under a legal obligation to him for the payment of money, or respecting property or services, of which death or illness might delay or prevent the performance; and
4) Of any person upon whose life any estate or interest vested in him depends.”
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