The following is my answer to a Quora question: “Can a stepmother be a beneficiary of a life insurance policy?”
When incepting a policy, a person can only take out a policy on a
person where there is insurable interest.
In this case, that insurable interest has to be the spouse, parents,
children, and key staff. A stepmother is
not in that equation. However, a policy
owner may nominate the beneficiaries.
The stepmother or anyone else can be nominated as a beneficiary by the
owner of the policy.
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