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Life Insurance and Civil Union Spouses in Illinois
Now that Illinois’ civil union law is in effect, we will continue discussing the new benefits that have been granted to civil union couples in our ongoing blog series. In this post, we discuss life insurance in relation to civil union spouses.
Can life insurance be purchased to cover a civil union spouse?
Yes, life insurance can be bought to cover a civil union spouse. In order to buy insurance on someone else’s life and be designated as the beneficiary, it must be determined that someone has an “insurable interest” in the insured person’s life, meaning they would suffer losses, financial and otherwise, if the insured person died. Typically, insurance companies assume that close relatives, such as a spouse or child, have an insurable interest in an insured person’s life. Illinois’ civil union law guarantees that civil union spouses are treated equally as married spouses in regards to life insurance coverage and benefits.
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