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| | Minors as Owners, Beneficiaries and Donees of Life Insurance Policies (Site not responding. Last check: 2007-11-07) |
 | | Law § 3207(a) (McKinney 2000) deems a minor above the age of fourteen years and six months competent to be the owner or donee of a life insurance policy. |
 | | Law § 3207(a) (McKinney 2000), a minor above the age of fourteen years and six months is deemed competent to contract for, own, and exercise all rights relating to a life insurance policy. |
 | | Therefore, a minor above the age of fourteen years and six months has an insurable interest in the life of his or her grandparents and is, therefore, allowed, pursuant to Section 3205, to own a life insurance policy issued upon their lives. |
| www.ins.state.ny.us /rg102061.htm (959 words) |
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