Commonwealth Consolidated Acts

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LIFE INSURANCE ACT 1995 - SECT 199

Capacity of young persons to insure etc.

  (1)   A person who is at least 10 but has not reached 16   may, with the written consent of a parent or a person who stands in the place of a parent:

  (a)   enter into a policy (including a life policy on his or her own life or on another life); or

  (b)   take an assignment of a policy.

  (2)   A person who has reached 16 but has not reached 18 has the same capacity to exercise rights or powers in relation to a policy of which he or she is the owner as a person who has reached 18.


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