You can own a life insurance policy on anyone, including your spouse. In most cases your spouse must agree to the insurance, make application and qualify medically.
Some carriers issue policies that can be applied for without the insureds knowledge or consent.
You can be the beneficiary of your spouse's life insurance as long as there is an insurable interest (which is almost always the case).
Agent Owner, Gilmore Insurance Services, Marysville, Washington State
Can you take out an insurance policy on my spouse? Yes, you can, the issue would be how much in coverage you're applying for and if consent is needed. There are some group life situations or credit group life situations where a small death benefit can be signed up for without your spouses knowledge. Usually something like a $1,000 to $15,000 in face amount. A larger amount purchased on an individual basis does require spousal consent to be covered.
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Some carriers issue policies that can be applied for without the insureds knowledge or consent.
You can be the beneficiary of your spouse's life insurance as long as there is an insurable interest (which is almost always the case).