New Mexico Statutes 59A-18-8. Consent of insured; life, health insurance
No life or health insurance contract upon an individual, except a contract of group life insurance or of group or blanket health insurance, shall be made or effectuated unless at the time of the making of the contract, such individual applies therefor or has consented thereto in writing, except in the following cases:
Terms Used In New Mexico Statutes 59A-18-8
- Contract: A legal written agreement that becomes binding when signed.
- Dependent: A person dependent for support upon another.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
A. A spouse may effectuate such insurance upon the other spouse;
B. Any person having an insurable interest in the life of a minor, or any person upon whom a minor is dependent for support and maintenance, may effectuate insurance upon the life of or pertaining to such minor; and
C. Family policies may be issued insuring any two (2) or more members of a family on an application signed by either parent, a stepparent, a guardian, or by a husband or wife.