Can I Get Life Insurance On My Brother?

  1. 11783 POINTS
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    Larry GilmorePRO
    Agent Owner, Gilmore Insurance Services, Marysville, Washington State
    Can you get life insurance on your sibling? Yes, you may have to explain the need to insure your sibling that shows an insurable interest and your sibling has to consent to coverage. But it shouldn't be a problem to insure a sibling and visa versa.  It's done quite often in buy sell situations in family business.
    Answered on May 7, 2013
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    Peggy MacePRO
    Most of the U.S.
    Many siblings will buy life insurance on their brothers so that there are funds to use for funeral expenses when their brothers die. For larger face amounts, you would need to show that you and your brother share finances in some way. I.e. You own a property or business together, you share living expenses, your brother owes you money, or vice versa.
    Answered on November 10, 2014
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