Business

Term Life Insurance Policy Renewal Issues

Updated 2026-05-06 09:35 UTC 1 source Neutral

A single man in his 50s is facing issues when trying to name his brother as a beneficiary on his $400,000 term life insurance policy. The agent cited lack of insurable interest as the reason.

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I am 56, single and renewing my $400,000 term life policy. The agent says I can’t name my brother as beneficiary. Why not?

“The agent said he could not add my brother because he does not depend on my income, so has no insurable interest.”

2026-05-06 09:15 UTC