Question
State of WI...Husband has life insurance policy thru his employer on his ex-wife. it was purchased when he was still married to her 12 years ago. We're in the process of getting child support thru the courts from her...would this policy be considered an insurable interest and collectible if something happened to her OR would we be better off just cancelling it..??
Answer
What counts is an insurable interest at the TIME the policy was applied for. He had it. If she is ill, keep the policy.