Location: Maryland
I recently found out there’s a $250,000 life insurance policy taken out listing me as the insured person with Transamerica, through an MIB report that I requested sent to me. The policy was applied for and activated while I had no knowledge or gave no consent. I also didn’t sign any documents or provide any verification. A family member most likely my father may have done this without telling me.
Is it even possible for an insurance company to open a policy like this without the insured person’s direct authorization or identity verification? Can a parent sign up for a life insurance policy listing me, an adult, without my knowledge? Would my consent, or verification have to be forged? What are my options if this was done fraudulently? Has anyone dealt with a similar situation before? Any advice would be appreciated, as I have no idea how things work legally when it comes to life insurance.